Studio executives and siblings Harvey and Bob Weinstein have been avid supporters of director Quentin Tarantino since his first theatrical release back in 1992. But after the launch of The Weinstein Co. four years ago, the studio hasn’t had a string of massively successful hits. With a flailing track record at the box office, and serious investments to recoup, who do you call? Quentin Tarantino?
According to Reuters, last year the production company was seriously strapped for cash after they realized that a quarter of their films earned $1 million or less. The Weinstein’s had sought financial advice and even considered applying for a bridge loan.
“They were backed up against the wall, and this gives them breathing room. This gets their back off the wall,” Tarantino told Reuters. It will give them some cash by the time the whole thing is over with, but it also even helps them inside of the industry and it actually shows Hollywood that they can open a movie. I’m actually proud that I was able to do that for them, that I could pay back their faith in me, that I could pay back their support.”
According the director, his film Inglourious Basterds has already made 200 million dollars worldwide at the box office. The film’s budget was set at 70 million dollars, so the studio has recouped their initial investment and then some. The film is scheduled to complete its theatrical run this November, and by that time they will have made a healthy profit.
This explains a lot about the Weinstein’s behavior when it came to editing down the film. There were so many rumors about them being overly critical of Basterds but after reading this, they had good reason. Even though Basterds is doing well, another Weinstein Co. feature, Halloween II is not. Perhaps if they stuck with semi-decent material they wouldn’t have this much of a problem.
Do you think Tarantino saved the Weinstein Company from going bankrupt?