CBS Corp.’s pay-TV holding, Showtime Networks Inc.,
announced on Monday that it has accepted to exclusively broadcast movies
produced by The Weinstein Co. for seven years,
starting with 2009.
The deal comprises 95 movies, including titles such as
Quentin Tarantino’s freshly revealed World War Two production “Inglorious
Bastards” and the musical “Nine”, directed by Rob Marshall and starring
well-known Daniel Day-Lewis, Nicole Kidman and Penelope Cruz.
Showtime, which is benefitting from the popularity of
original series such as “Weeds,” “Californication”, “Dexter,” and “The Tudors”,
formerly had an agreement with MGM, Paramount and Lionsgate. However, those
studios teamed up three months ago in order to form a competing pay TV channel,
to some extent in consequence of the parsimonious stipulations that Showtime
was attempting to obtain from them.
Showtime had been looking for new movie providers when they
found the Weinstein Co., which had not had a good chance at the box office
since leaders Bob and Harvey Weinstein initiated the company almost three years
ago after dissolving their connections with Miramax.
Officials from both corporations refused to give details
upon the financial terms of the pact. Nevertheless, according to the Wall
Street Journal, if Weinstein Co.’s movies enjoy success at the box office, the
deal could be worth $500 million to $700 million to the studio over seven
years, as said by individuals familiar with the settlement. However, if the
films perform badly, it could be worth much less, these people say.
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