Wednesday, June 30, 2004

Newsday.com: Cablevision’s IFC benefits from film’s success

Newsday.com - Business: Long Island and New York City: "The record-breaking success of 'Fahrenheit 9/11' means a big pay day not only for Michael Moore and the Weinstein brothers but also for co-distributors Lions Gate Entertainment and IFC Films, a unit of Cablevision Systems Corp. whose relationship with Moore goes back several years.

Bob and Harvey Weinstein, who run Miramax Pictures, brought in Lions Gate and IFC after Miramax parent Walt Disney Co. refused to distribute it and sold rights for the documentary to the brothers.

Matthew Harrigan, an analyst at Janco Partners in Colorado, estimated that Lions Gate will collect $8 million to $12 million for distributing the film and IFC will get $2 million. He expects the domestic box office to total between $70 million and $100 million.

The take for Lions Gate and IFC is limited because they do not have home-video and some other rights."

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