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It has been a rough year for the Weinstein Company as they near bankruptcy. They recently hired a bankruptcy consultant and are hanging their hopes of financial rescue on the release of the movie Inglorious Basterds later this month. So how bad are things for Harvey? According to a tipster, he is reportedly trying to unload his controlling stake in the jet set social network a small world for somewhere around half of what he paid for it.
Weinstein has been shopping around his stake in a small world. He needs liquidity fast, willing to take a heavy discount (as in 50% or more), the sharks should be circling soon…
Earlier this year we saw media mogul Barry diller skilfully drop an egg on Jared Kushner when he unloaded averyshortlist on the Observer owner and Ivanka Trump husband-to-be. Then again, Kushner provided a willing subject, gleefully allowing DIller to pull the wool over his eyes. It will be interesting to see if Weinstein can pull off a similar feat. The situations, however, are perhaps less analogous on deeper inspection. Harvey’s mogul days are far behind him (Diller’s are not), ASW isn’t exactly hurting, and Weinstein’s sale is motivated by his financial woes rather than scrapping a project that never really materialized.
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Julia Lovallo
Derek Koch
Carson Grif...
Michael Politi
August 14, 2009 6:20pm
Of course Jared Kushner got taken to the cleaners by Diller, he is a moron (his dad paid 2.6 million to get him into Harvard) and every business he has touched has failed or has continued to fail (i.e. The Observer, 660 Madison). Maybe this sketchballs only smart move was to con Ivanka Trump into marrying him…on second thought Donnie Trump Sr. is going to b his father-in-law…ouch!
I tell yiz, I was over at Nobu’s a few weeks ago. When the kitchen closes, the kitchen is CLOSED. Harvey almost had a fist fight with a waiter because he DEMANDED chicken teriyaki! They wouldn’t serve him! He literally got up from the table and went into the kitchen ranting and raving! On the same evening, Jay - Z was there dining, too. Harvey looked so hungry.
August 15, 2009 2:39pm
@ NewYorka: it was 666 Madison.
August 15, 2009 2:51pm
Normally I would pity the guy who would have to be my brother-in-law, but in this case doesn’t anyone pity me?!
August 15, 2009 3:30pm
The only reason he has Ivanka is money. The only reason he has money is cause of his Daddy. And the only reason Daddy has money is cause he’s a crook.