From the moment the Weinstein Co. began to fall apart, producers have been trying to free their projects from the company’s grasp.
The producers of “Hotel Mumbai” succeeded on Friday, sealing a deal with the Weinstein Co. to reclaim the film in exchange for an undisclosed sum. The film stars Dev Patel and Armie Hammer, and chronicles the 2008 terror attack in India that left more than 160 people dead.
In 2016, the Weinstein Co. signed on to distribute the film in North America and the United Kingdom, agreeing to spend at least $10 million on marketing and release it on 800 screens. The film was set to be completed this spring and released this fall. However, in the wake of revelations of Harvey Weinstein’s alleged sexual misconduct, the producers sought to rescind the agreement.
The producers have sold the international rights to other distributors, and expect the film to perform well overseas given the subject matter. The overseas distributors are aiming for a release in September or October, in time for the 10-year anniversary of the hotel attack.
The conflict played out in bankruptcy court, as the producers objected to including the film in the Weinstein Co. bankruptcy estate. In court papers, the producers questioned whether Lantern Capital — which has agreed to buy the Weinstein Co. assets for $310 million — had the “financial and industry-specific wherewithal” to distribute the film. Lantern, a Dallas-based private equity fund, has no prior entertainment industry experience.
Under the settlement, the producers will reclaim the domestic and U.K. rights. Lantern will not have to pay the $10 million to market the film.
Several other completed films are also tied up the bankruptcy, including “The Current War” and “The Upside.”