This is a move that I didn’t see coming, but it makes a lot of sense. Interestingly, this does not include TV rights. It would have been interesting to see TWC develop properties as original series for Starz, but I suppose that could happen later. Here’s the full story from the Hollywood Reporter:
Liberty Media’s Starz LLC has agreed to sell a 25 percent stake in Starz Media, which includes Anchor Bay Entertainment and other TV and home entertainment assets, to The Weinstein Company, the companies said Tuesday.
Financial terms weren’t disclosed.
Separately, Anchor Bay has signed a multi-year U.S. distribution agreement for new theatrical content from TWC and its Dimension Films label that may make Anchor a bigger player in emerging areas of distribution.
While not including TV rights, the deal spans Blu-ray, DVD and VOD, pay-per-view and digital distribution and covers up to 20 TWC and Dimension titles per year. They include The King’s Speech, Blue Valentine and Company Men.
The deals were announced by Starz president and CEO Chris Albrecht and TWC co-chairmen Bob and Harvey Weinstein.
“We are thrilled to partner with Starz and appreciate the commitment of Liberty Media in bolstering Anchor Bay, allowing it to become a much bigger player in non-theatrical distribution,” the Weinsteins said. “We hope this strategic partnership is a first step in not only making Anchor Bay a home for our product, but in potentially housing other companies’ product as well, giving quality independent films the kind of care needed in today’s marketplace.”