Industrialist agrees to fund TWC investment

Industrialist Len Blavatnik has agreed to make a three-year investment in The Weinstein Co., according to a person familiar with the situation.

Under the deal, TWC will distribute the titles in the US and retain rights to France and Germany and Australia.

Blavatnik’s Icon Entertainment will distribute the TWC titles in the UK and other foreign territories. TWC had not officially confirmed the deal Monday evening.

Blavatnik made a bid earlier this year for MGM but the studio spurned his offer. He began building an entertainment conglomerate several years ago through his Access Industries.

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