By Mandela Wells

@MwellsDJ

11/28/15

Harvey Weinstein, face of the famous film studio The Weinsten Company, has decided to distribute fewer movies and put a heavier focus on TV operations.

The Weinsten Company, which is famous for several Oscar nominated pictures such as “Silver Linings Playbook,” “Inglorious Bastards,” and “Django: Unchained,” are also known for their indie films that include “Fruitvale Station,” “Pulp Fiction,” and “Transamerica.

In a response to tough financial times for independent film business, films distributed by TWC will drop from eighteen films per year to ten. Instead of piling up new films at festivals such as Sundance and Toronto, they will take up more projects at the script stage to allow for hands-on development, rather than acquiring a finished product.

The company also plans to ante up on its television business, hoping to fuel half of the company’s earnings. Currently, 30 percent of TWC’s revenue comes from the TV shows it produces, which includes Netflix’s “Marco Polo” and VH1’s “Mob Wives.”

As a result of the difficult economic market for small films and with flops like “Burnt” and “No Escape,” TWC was forced to slash payroll. Last week, they were forced to lay off over 50 employees of the 225 working for the company.

“Our board has been on us to cut our overhead,” Weinstein told Variety after board member and advertising giant WPP pushed aggressively for cuts. “Bob and I resisted the cuts for a few years because we still think of ourselves as a mom-and-pop organization. Maybe we need to grow up, but if this is the price of doing it, I hate growing up.”Despite months of bad press, executives denied reports that TWC is being sold and that billionaire Ron Burkle is a potential buyer. “Ron Burkle is an amazing business partner of ours, but there are no plans to sell him the Weinstein Co. at the present time,” said David Glasser, TWC chief operating officer.For now there will be a substantial change in the films released by The Weinsteins while also allowing new distribution companies to emerge or for current ones to release more.