Ben Silverman, founder of multi-platform production firm Electus, housed at Barry Diller’s IAC, recently teamed up on four shows with Harvey and Bob Weinstein’s company, which is planning to spend more than $10 million annually on TV productions. The company went through debt restructuring last summer and now has approximately 15 shows in development. Eight of these are planned to go on air by the end of 2011. Former co-resident of production at Miramax, Meryl Poster, was hired to be in charge of the TV business. Harvey Weinstein explained that thanks to restructuring they have positive cash flow again. "We can't go back, but we can reboot, and that's what we're doing. I think these shows can create some stability for the company and have the potential to be cash cows."
Projects they are currently working on are showing success, such as his current partnership with Silverman on The Marco Polo series, which has received offers from several cable networks. Silverman points out why he is so fond of Weinstein and their commitment. "Harvey and his company are willing to do the hard work to promote TV shows and really market them to create a platform around them, all of which I found very attractive in this crowded marketplace," he explained in a statement.
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