Schadenfreude is the media gift that keeps on giving. And giving; and giving. And no one, with the possible exception of Barry Diller, elicits shadenfreudy articles from media columnists better than Harvey Weinstein, mostly because of his thoroughly douchy treatment of underlings.
And so it is with great schadenfreude that we relate that Harvey may or may not be in a bit of a "choppy waters" financially. According to TheHollywoodReporter:
"As far as Harvey Weinstein is concerned, he and his brother Bob have been battling naysayers for 25 years. Although they proved their critics wrong more than once during their long run at Miramax, when they walked away from the company they founded, they inevitably faced a chorus of skeptics who doubted their ability to create a new, independent entertainment company on a grand scale.
"Nearly three years since the creation of the Weinstein Co., the duo insist they've finally got all the elements in place to do justice to a full slate of films, some already shooting, others ready to go before the cameras.
"Still, like everyone else in the indie film sector, the Weinsteins face a tightening credit market and a glut of films that have made scoring a hit ever harder. As a result, there are doubters who question how the Weinstein Co. is financing its many projects.
Insisted one Wall Street observer, 'They are running relatively low on capital right now," though he quickly added that "their house is getting in order.' Pointing to a precipitous drop in the stock of Genius Products -- the Weinstein Co. has a 70% stake in Genius' home video company -- Merriman Curhan Ford & Co. analyst Eric Wold said, 'What's impacted the Genius stock since last November, when it started a freefall from $2.50 down to 20 cents a share, has been fear about the Weinsteins' financial situation.'"
Scadenfreude: karmic media repercussions. Big Harv responds here.
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