Hollywood powerhouse The Weinstein Company is now free of its $450 million (£300 million) debt following a ground-breaking restructuring deal which saw the company hand over the rights to 200 films including Halloween II and SCARY MOVIE 4.
The film studio, set up by movie moguls Harvey and Bob Weinstein in 2005, spiralled into debt over the last few years following a series of shaky investments in fashion, TV and online projects.
But the firm is now back on track after the Weinsteins agreed an innovative deal which will see insurance company Ambac pay $115 million (£76.7 million) of the debt to financial companies Goldman Sachs and Assured Guaranty.
The movie moguls wiped the rest of the debt by handing over control of 200 films to executives at Goldman Sachs, but they managed to retain the rights to the company's most high-profile movies including Inglourious Basterds, Pulp Fiction and the Scream franchise.
Continue reading: The Weinstein Company Now Debt-free
The follow-up to Zombie's 2007 remake of the horror classic opened in theatres this month (Sep09) and busy Zombie has already signed on to direct a remake of The Blob, which he will begin shooting in the spring of 2010.
However, in between his film work, the rocker will return to the stage, launching a North American tour following the release of his as yet untitled fourth solo album in November (09).
And Zombie insists touring is a welcome change of pace from moviemaking.
Continue reading: Zombie To Go Back On Tour
Rocker-turned-movie-maker Rob Zombie has signed to direct a prequel to the cult Halloween franchise, and promises fans it will be the scariest yet. THE DEVIL'S REJECTS director insists the MICHAEL MYERS story has grown tired after a string of disappointing sequels, and has vowed to reinvent the series with more gore and suspense than ever before. The film will be set before the events of Halloween II, and will focus on the life of the serial killer as a young man, before he was admitted to a mental institution. Zombie says, "The look and the feel is going to be completely different. Halloween started off as a very terrifying concept, a terrifying movie. But over the years, Michael Myers has become a friendly Halloween mask. "When it came to the point where you could buy a Michael Myers doll that was cute-looking and press its stomach and play the Halloween theme, you knew the scare factor was gone. "But I think the story and the situation is scary. All it needed was someone to come in and to take a totally different approach to make it scary again. To me, that's the challenge and that's the fun." As well as writing, directing and producing the film, Zombie will also serve as music supervisor.
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