×

Lantern Capital Vows to Make Weinstein Co. ‘Most Progressive’ Force in Industry

Lantern Capital sent a memo to Weinstein Co. employees on Tuesday promising to make the company “the most progressive and forward-thinking presence in the industry.”

The memo to staff was sent out two hours after Judge Mary Walrath approved the sale of the company to the Dallas-based private equity firm. Lantern’s co-founders, Andy Mitchell and Milos Brajovic, pledged to uphold “the absolute highest level of ethics and standards.”

The memo also stated that Lantern will commence rebuilding the organization as it seeks to close the transaction over the next few weeks.

Lantern agreed to buy the company for $310 million, plus the assumption of project-based debt.

The full memo:

Today we reached another significant milestone.

As we continue to move forward with this process, we appreciate your continued support and patience. Looking ahead, our new company will represent an unwavering commitment to a culture of diverse professionals with the absolute highest level of ethics and standards. As we’ve maintained, our investment is in people. The best people will position us as the most progressive and forward-thinking presence in the industry.

Lantern shares a deep appreciation for entertainment and all creative arts. It is our responsibility to protect the years of hard work and dedication contained within the Weinstein Company’s film and television libraries.

We have a lot of work ahead of us to close this transaction while simultaneously rebuilding the organization. In the coming weeks, we look forward to working with you as we commence our new operations and put the new company on a path to long-term success and sustainability.

Gratefully,

Andy, Milos and Team Lantern

Popular on Variety

More Biz

  • Frank Grillo'Avengers: Endgame' Film Premiere, Arrivals,

    Matt Phelps Tapped as President of Joe Carnahan, Frank Grillo's Warparty

    Frank Grillo and Joe Carnahan’s Warparty productikon banner has appointed Matt Phelps president of the company. Phelps will head the Los Angeles office and be responsible for overseeing all film and television projects. “We searched long and hard to find the right fit for Warparty and felt that Matt embodied everything that we were looking [...]

  • Jack Gilardi, Longtime ICM Partners Agent,

    Jack Gilardi, Longtime ICM Partners Agent, Dies at 88

    Jack Gilardi, a longtime ICM Partners agent who represented such stars as Burt Reynolds, Sylvester Stallone, Jerry Lewis, Charlton Heston and Shirley MacLaine, died Thursday at his home in Los Angeles. He was 88. Gilardi was known for his gentlemanly style, love of the Los Angeles Dodgers and his skill at representing top actors. He [...]

  • Nexstar Completes Tribune Acquisition, Sean Compton

    Nexstar Completes Tribune Acquisition, Sean Compton to Head Programming

    Nexstar Media Group has become the nation’s largest owner of TV stations after completing its $4.1 billion acquisition of Tribune Media. The deal creates a broadcasting colossus with more than 200 stations serving more than 100 markets, although a number of stations will be divested to keep Nexstar in compliance with FCC ownership limits. Nexstar, [...]

  • Leaving Neverland HBO

    Judge Sides With Michael Jackson Estate in 'Leaving Neverland' Dispute

    A federal judge is leaning towards granting the Michael Jackson estate’s move to take HBO to arbitration in its dispute over the documentary “Leaving Neverland.” Judge George Wu issued a tentative ruling on Thursday in which he denied HBO’s motion to dismiss the estate’s case. Wu is expected to make the ruling final by the [...]

  • Homecoming

    Peak Storytelling Here as Podcasts, Short Form Ride New Wave

    The concept of peak TV is nothing new. But scratch the surface of original content these days, and it’s no longer about television — from podcasts and short-form video, storytelling itself is at a peak. Thanks to audio, video and other new platform companies including Gimlet, Quibi, Wondery, iHeartMedia and Serial Box, listeners and viewers [...]

  • Patti Smith Cambridge Folk Festival

    Patti Smith Muses Over the Many Ways to Tell a Story

    It’s Sept. 11, and Patti Smith has been thinking a lot about people who died. This is understandable. It is, of course, the 18th anniversary of the attacks on the World Trade Center and Pentagon, and an annual time of mourning for New York City, the city that Smith adopted as her hometown 50-plus years [...]

More From Our Brands

Access exclusive content