WPP Invests in The Weinstein Company

NEW YORK WPP Group has confirmed it is among the equity investors in The Weinstein Company, launched late last month by Bob and Harvey Weinstein, who founded Miramax in 1979.

WPP, which owns agencies such as Ogilvy & Mather, Young & Rubicam and JWT, joined GLG Partners, Goldman Sachs, Perry Capital, Quinta Communications and Vivi Nevo as investors in the new film and entertainment entity, which raised about $490 million. WPP’s stake was undisclosed.

The Weinstein Co., with offices in New York, Los Angeles and London, this month is set to launch its first theatrical release, Derailed, starring Jennifer Aniston. The film is based on the book by Jimmy Siegel, a senior executive creative director at Omnicom Group’s BBDO in New York.

In a statement, the Weinstein brothers said, “Twenty-six years ago, we founded Miramax and named it after our parents, Miriam and Max, and we want to continue to pay tribute to our parents by naming our new company after them, The Weinstein Co. We are thrilled with the important relationships we have formed with our investors over the past few months.”

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