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Netflix Is No Longer In Contract With The Weinstein Company

Netflix Is No Longer In Contract With The Weinstein Company

Netflix just won a U.S. Bankruptcy Court’s approval to terminate its output deal with The Weinstein Company.

Netflix, one of the largest streaming companies in the world recently won a U.S. Bankruptcy Court’s approval to terminate its deal with The Weinstein Company and is no longer obligated to stream the third season of MTV’s Scream.

The agreement filed yesterday stems from various objections due to The Weinstein Company’s bankruptcy.

 Photo courtesy of the  Associated Press

Photo courtesy of the Associated Press

According to the document, Netflix no longer will be obligated to accept delivery or make payments for any films, television shows or other content as of July 11.

The only exception is the second season of the animated children’s series Spy Kids, which is based on based on director Robert Rodriguez’s popular film series.

  Spy Kids.  Photo courtesy of Netflix.

Spy Kids. Photo courtesy of Netflix.

The settlement also ends Netflix’s battle over the show Peaky Binders, a British period gangster show that has a huge fan base. The show was originally acquired by the Weinstein Company in 2013 when it took U.S. TV and VOD rights, later selling the series to Netflix but retained credit as the U.S. distributor. Deadline Hollywood reported that a spokesperson for Netflix confirmed that Peaky Blinders will remain on the service, uninterrupted.

  Peaky Binders . Photo courtesy of  BBC

Peaky Binders. Photo courtesy of BBC

Netflix has also agreed to drop its $326,000 claim stemming from the sequel to Crouching Tiger, Hidden Dragon and is holding on to $1.6 million in license fees, which are planned to be paid once The Weinstein Company and Endemol Shine have ended their dispute. Endemol is claiming that Harvey Weinstein’s alleged sexual misconduct is in breach of contract on the part of Weinstein Television.

If you've seen any of the shows we've mentioned, then be sure to let us know what you think about them in the comments section below. And don't forget to subscribe to The Sitch for more updates on Netflix, The Weinstein Company, and other entertaining reads.

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