Harvey Weinstein is keeping his right-hand man after all, in a surprising coup for the independent film pioneer.
Weinstein Co. Chief Operating Officer and President David Glasser, who has been with the New York indie film studio for seven years, has signed a deal to stay through 2018, the company said Wednesday.
The announcement comes fewer than two months after Glasser and brothers Harvey and Bob Weinstein said that Glasser was stepping down.
The executives worked out a deal following long negotiations over Labor Day weekend, according to a statement from the company. Glasser, whose current contract was set to expire in November, was reportedly in talks for big jobs with companies such as DreamWorks Animation.
His departure would have been a blow to Weinstein Co., which has suffered from several other high-level exits and has faced growing questions about its financial health.
Among those in talks to succeed Glasser was Tucker Tooley, the president of troubled film and television studio Relativity Media. Last month, Weinstein Co. lost Tom Quinn and Jason Janego, the co-founders of the company's Radius-TWC label. Then veteran production executive Julie Rapaport also left for Amazon Studios.
Glasser's decision arrives at an important time for the studio, which is preparing to release such high-profile films as "Carol," starring Cate Blanchett; and director Quentin Tarantino's "The Hateful Eight."
"After a long weekend in conversations with everyone, we were able to partner on a plan that will keep me at the studio and continue to grow our business for years to come," Glasser said in a statement.
Neither Glasser nor the Weinstein brothers were available for comment.
Weinstein Co. launched in 2005 and became known for Oscar-friendly fare such as "The Artist" and "The King's Speech."
The Weinstein brothers previously founded Miramax, named for their parents Miriam and Max. That indie studio was sold to Walt Disney Co. in 1993. Disney sold Miramax in 2010, and it is up for sale again.
"I couldn't imagine continuing this journey without David," Harvey Weinstein said in a statement that made reference to Miramax, which the brothers previously tried and failed to acquire. Miramax is now owned by Thomas Barrack's Los Angeles investment firm Colony Capital and Qatar Holding.
"This is starting to feel like Miramax 2.0, so I figure we should join the original Miramax and create the world's most famous active movie company," Weinstein said. "With David back, that could be a reality."
A company spokesman declined to say whether the Weinsteins were angling to make another play for Miramax.
Besides movies, Weinstein Co. has been building its TV business that makes shows such as "Project Runway," "Scream" and "Marco Polo."
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