In a move that should excite the independent film industry, Bob and Harvey Weinstein, heads of the Weinstein Company, recently acquired the distribution company Wellspring Media, and are returning to what started them as industry stars back in the early 90s: independent film.
Michael Wang says at Show Business Weekly that “Wellspring, the distribution company behind the controversial new film "Unknown White Male," will give up its theatrical division in favor of focusing primarily on DVD distribution of independent, foreign, and documentary film. Any new theatrical releases will be distributed under the Weinstein brand. Wellspring Home Entertainment expects to pursue true indie films for exclusive DVD release, giving these films an outlet beyond the festival circuit.”
This year has not been good for the independent film industry as many distribution studios have discarded the smaller, innovative movies; the condition of the specialty film business being so shaky.
"This realignment supports an aggressive acquisition campaign to build on the Wellspring brand with critically acclaimed films that celebrate intelligent cinema," said Trevor Drinkwater, CEO of Wellspring.
With their transition back to the straight-to-video films, it gives the indie film industry a well-funded experienced partner.
are you kidding me? they shut down the theatrical business and will just keep the Wellspring logo going with crappy straight to dvd releases. it's a tragedy for independent film
Posted by: Anonymous | March 2, 2006 10:55 AM | Permalink to Comment