reported by Jesse Desi, CyberScreenwriter.com

The Weinstein Company , the multi- media enterprise launched by Bob and Harvey Weinstein, has launched an innovative $285 million fund that will fully finance the development, production, acquisition, marketing and distribution of a large slate of Asian themed films over the next six years. Worldwide distribution for all films under the deal will be controlled by The Weinstein Company and will include DVD distribution in the United States under TWC's agreement with Genius Products. The announcement was made today by Bob and Harvey Weinstein, co-chairmen of TWC.

The fund will include a diverse mix of theatrical and direct-to-video titles, which will mostly be filmed in Asia and will explore the region's unique culture and showcase the talents of leading Asian filmmakers. TWC anticipates producing or acquiring a total of 21 theatrical titles and 10 direct-to-video titles during the term for the fund.

The fund, structured and placed by Goldman, Sachs & Co., will provide up to $285 million in capital for the development, production, acquisition, marketing and distribution for all qualifying Asian-themed films produced or acquired by TWC over the next 6 years. The fund will be capitalized with senior debt financing, mezzanine financing and equity financing. A consortium of banks led and co-arranged by Comerica Bank will provide the senior debt financing.

A team of investors will manage the fund, with TWC serving as the Managing Member with authority over all film-related activities including development, creative, marketing, and distribution.