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Lantern Capital is formally within the movie business: completes $289 million purchase of Weinstein Co.

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Lantern Capital finished the acquisition of the Weinstein Co. On Monday after winning court approval final week. The Dallas-based totally personal fairness company outlined in extra element what it bought for $289 million. The various assets are unreleased function movies: “The Upside,” starring Kevin Hart, Bryan Cranston and Nicole Kidman and “The modern warfare” with Benedict Cumberbatch and Michael Shannon.

Lantern amusement’s movie library of 270 films includes 28 Academy Awards, with a complete worldwide field workplace of extra than $2 billion.

First-class image Academy Award winners in its library: “The King’s Speech” and “The Artist.”

container office hits: “Inglourious Basterds,” “Silver Linings Playbook,” “The Hateful 8,” “Django Unchained.”

style franchises: “scary movie” and “children of the Corn.”

original story posted on July 10, 2018

two Dallasites have named themselves co-presidents of Hollywood’s most modern agency — Lantern amusement — and are beginning to run what become for decades the Weinstein organization.

Andy Mitchell and Milos Brajovic, founders of Dallas-based totally personal equity company Lantern Capital companions, stated Tuesday in a press release that they’ve hired three skilled leisure industry executives to be their specialists in what the pair is calling “this formative degree of the new agency.”

Lantern Capital bought the Weinstein Co. Out of financial disaster in may additionally for $289 million plus the idea of $a hundred and fifteen million in debt for belongings that include a 227-film library and indicates and movies in production which includes undertaking Runway. Mitchell and Brajovic have thus far declined interview requests, however have issued statements pronouncing they intended to run the enterprise and rebuild the studio.

Lantern Capital ended up as the winning bidder of a corporation that went into bankruptcy in March after more than one sexual misconduct allegations surfaced over months approximately co-founder Harvey Weinstein. Mitchell and Brajovic accept as true with they have got also addressed a financial disaster court docket concern about finances being available to Hollywood professionals who say they have not been paid for work completed on the Weinstein Co. And to sexual attack accusers. Lantern created a $8.75 million fund to pay the institution that makes up Weinstein Co.’s unsecured lenders.

One of the first things Mitchell and Brajovic did was go back mission Runway to its authentic community, Bravo, that is owned through NBCUniversal.

The imminent 17th season is in pre-production and could be on Bravo in 2019. The long-jogging truth television show approximately opposition between budding fashion designers were on Lifetime for several years. Lifetime’s discern agency, A+E television Networks, terminated the contract with the Weinstein Co. After the sexual harassment allegations, cut-off date Hollywood suggested.

The 3 consultants that Lantern stated Tuesday had been hired to rebuild the commercial enterprise are:

Steve Beeks, was maximum currently co-president and co-chief operating officer of Lionsgate amusement. He’s recognised inside the enterprise, Lantern said, as an experienced flip-around govt and was at Lionsgate for 14 years. Earlier revel in includes Hallmark enjoyment.

Alexa Platt, former chief economic officer of Open road movies and head of finance at AwesomenessTV, where she managed the economic operations and strategic making plans for YouTube multichannel community. She formerly worked at Paramount and The Weinstein Co.

Lauren Zalaznick, turned into maximum lately govt vp at NBCUniversal. She became there for 10 years and held numerous positions until leaving in 2014, including leading the leisure and digital networks at Comcast NBCUniversal. She secured Telemundo’s 2018 and 2022 global Cup broadcast rights. She additionally led Bravo to its first Emmy Award nominations and wins with challenge Runway and pinnacle Chef, respectively.

Lantern amusement can have places of work in los angeles, big apple and Dallas, the organisation stated Tuesday.

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