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Netflix Terminates Contract With The Weinstein Co.

Caryn Mandabach Productions

Netflix won a U.S. Bankruptcy Courts approval to terminate its output deal with The Weinstein Company, a settlement that means the streaming service wont be obligated to stream a third season of MTVs Scream.

The agreement, filed today (read it here), comes as Lantern Entertainment continues to work through various objections stemming from The Weinstein Co.s bankruptcy, in hopes of establishing productive relationships in Hollywood.

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According to the document, Netflix no longer will be obligated to accept delivery or make payments for any films, television shows or other content as of July 11.

One exception is the second season of the animated childrens series Spy Kids, which is based on director Robert Rodriguezs popular film series.

The settlement resolves Netflixs part in the dispute over Peaky Blinders, a British period gangster epic with a rabid fan base. Originally acquired by The Weinstein Co in 2013 when it took U.S. TV and VOD rights, it later sold the Birmingham-set saga on to Netflix, but retained a credit as U.S. distributor.

Netflix is holding on to $1.6 million in license fees to be paid once The Weinstein Co and Endemol Shine resolve their differences. Endemol has filed legal documents claiming Harvey Weinsteins alleged sexual misconduct represents a contract breach on the part of Weinstein Television.

The streaming service also agreed to drop its $326,000 claim stemming from the sequel to Crouching Tiger, Hidden Dragon.

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