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.
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.
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.
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.
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