The Weinstein Company and Rainbow Media Holdings Form Strategic Alliance

Broad Based Agreement to Include Acquisitions, Home Video Distribution, Foreign Sales and Theatrical Distribution

New York, New York – May 19, 2005 – The Weinstein Company and Rainbow Media Holdings LLC announced today a multi-faceted agreement that will utilize Harvey and Bob Weinstein's film acquisition and distribution skills, while enabling both companies to accelerate the growth of their film libraries. Continuing the long successful relationship between the two parties, the alliance will also seek to expand the audience of Rainbow Media's original content by increasing the potential of its home video distribution, foreign sales and theatrical distribution.

Rainbow Media owns and manages the national cable networks of AMC, IFC (The Independent Film Channel), WE: Women's Entertainment and fuse, as well as the theatrical film arm of IFC Films.

Under the terms of the multi year agreement, Rainbow Media and The Weinstein Company will co-own a film library targeted for television and home video rights, with titles to be selected by The Weinstein Company and funded by Rainbow Media. Both parties will share equally in the distribution profits. Rainbow Media's national networks will also receive the first option for the US television premieres for each available film.

As part of the agreement, The Weinstein Company will also be the exclusive home video distributor for Rainbow Media's theatrical arm, IFC Films, and for all original series, specials, documentaries and films produced by Rainbow Media's national entertainment networks: AMC, Independent Film Channel (IFC), WE: Women's Entertainment and fuse.

Additionally, The Weinstein Company will also become the first exclusive sales agent for the foreign rights for IFC Films.

Harvey Weinstein stated, "At Miramax, my brother and I learned the power of film libraries and built an 800 title film library. We're going to do that again. This agreement with Rainbow puts us in a position to immediately begin that effort. I am deeply appreciative of the faith that Jim Dolan, Jonathan Sehring and Josh Sapan are showing in The Weinstein Company and I look forward to working together with them."

"The Weinsteins are an incredibly talented and insightful team who have been outstanding partners with Rainbow and IFC over many years," stated Josh Sapan, President and CEO of Rainbow Media Holdings LLC. "This agreement provides a broad platform to further expand our strong library, broaden the audience for the content we create, and continue a relationship with two people we trust and respect. We are fortunate to be able to work together in this highly collaborative, cooperative and productive new alliance."

Added Jonathan Sehring, President, IFC Entertainment, "IFC is thrilled to be able to work closely with the Weinsteins to expand the distribution of our films around the world. They are providing their years of experience and success, which will no doubt provide our brand and our film titles with even greater visibility and recognition among film fans."

A leader in sports, news and entertainment programming, Rainbow Media Holdings LLC is a subsidiary of Cablevision Systems Corporation. Rainbow owns and manages national networks: AMC, Fuse, IFC (The Independent Film Channel) and WE: Women's Entertainment, as well as on-demand services including Mag Rack and sportskool. Rainbow's other businesses include its regional programming services — MetroChannels, News 12 Networks and Rainbow Sports Networks – in addition to the Rainbow Advertising Sales Corporation and Rainbow Network Communications.

Press Contacts

  • Matthew Frankel
    Rainbow Media
    (917) 542-6390

    Sarah Levinson
    The Weinstein Company
    (212) 941-3875