Chris Marquette Message Board

larry-411

Member

Registered: 10 May 07

Posts: 443

Weinstein in more financial trouble

Missed this item a few days ago due to family emergency but I thought it might interest some here.

Another Financial Setback For Weinstein

Back in 2007, Harvey Weinstein was boasting about Genius Products, the Santa Monica-based DVD distributor 70% owned by The Weinstein Co. That was then, and this is now. On December 24th, its shares were de-listed from the "over-the-counter" board (OCTBB) to the pink sheets. According to Home Media magazine, the de-listing was due to Genius' inability to report third quarter fiscal 2008 results ending September 30th in a timely manner after formally requesting a filing extension with the SEC. Genius at that time said it would restate consolidated financial statements for six quarters and two fiscal-year periods. How awful must those numbers be after the company, in the second quarter FY2008, reported a 33% decline in DVD revenue to $74.6 million and a loss of $11.7 million due to a 49% drop in box office for Weinstein Co releases The Great Debaters, Diary of the Dead and Cassandra's Dream. I regularly do box office, and I barely remember those titles.

http://www.deadlinehollywooddaily.com/a … ry-bright/

Illinoisguy1

Banned

Registered: 21 Jan 07

Posts: 1,517

Re: Weinstein in more financial trouble

Perhaps if they would have released that Kill Bill: The Bloody Affair set that was shown at some industry show a few years ago they may have garnered some more dvd sales.

I know I bought a TV Guide comedy collection that Genius distributed a few years ago and the quality was terrible. Plus they replaced the theme music. From that I've tried to stay away from buying dvds released by Genius.

BiggestChrisMarquetteFan

Supreme Dorquette

From: the upside down

Registered: 13 Jun 07

Posts: 4,938

Website

Re: Weinstein in more financial trouble

I hate Weinstein! He deserves it.