The Weinstein Company and IFC Entertainment Co-Acquire North American Rights to Out of the Blue

NEW YORK, NEW YORK (November 17, 2006) - The Weinstein Company and IFC Entertainment have co-acquired all North American rights to the controversial drama Out of the Blue which will be released though IFC's First Take day and date banner and hit theatres simultaneously with VOD. The Weinstein Company will be releasing the film on DVD through Genius Products, LLC. The joint announcement was made today by Michelle Krumm, Executive Vice President of Acquisitions for The Weinstein Company and Jonathan Sehring, IFC Entertainment President.

Tim White and Steven O'Meagher produced the film that was financed by the New Zealand Film Commission, NZ on Air, TV3 and Dendy Films. Out of the Blue is a Southern Light and Desert Road Films production AND premiered at the 2006 Toronto International Film Festival

Written by Graeme Tetley with director Robert Sarkies, Out of the Blue is the true story of David Gray who, on November 13, 1990, shot and killed over a dozen townspeople in his hometown Aramoana, a quiet and tight knit community on New Zealand's South Island. It stars Matt Sunderland and Karl Urban and was shot on location earlier this year in New Zealand's Otago region.

"This is one of the eeriest and most riveting films I have seen and is definitely a stand out that will have people on the edge of their seats in front of both big and small screens across the states," stated Jonathan Sehring.

Robert Sarkies commented, "To achieve US distribution with two such prestigious companies shows the film has universal themes that go beyond mere depiction of a dark page in our history. I'm honored to be able to bring this moving true story to a North American audience."

The Weinstein Company purchased the rights from NZ Film. Michelle Krumm brought the project to The Weinstein Company. Genna Terranova, Vice President of Acquisitions and Eileen Rodriguez, Director of Acquisitions, negotiated the deal on behalf of The Weinstein Company. Kathleen Drumm, Head of Sales and Marketing and James Thompson, Business Affairs Executive, negotiated on behalf of NZ Film. Arianna Bocco and Liz Nastro negotiated on behalf of IFC.

ABOUT FIRST TAKE AND IFC ENTERTAINMENT

IFC First Take is the day and date distribution arm of IFC Entertainment. First Take releases twenty-four films a year, theatrically across the country and simultaneously on VOD through the IFC IN THEATRES service currently available with Comcast and Cablevision. IFC Entertainment also consists of IFC Films, a traditional distribution company, and the new IFC Center in Greenwich Village. IFCE is a Rainbow Media company. Recent First Take Films include I am a Sex Addict, Three Times, Russian Dolls and Requiem. Family Law and The Wind That Shakes the Barley are upcoming.

ABOUT RAINBOW MEDIA HOLDINGS LLC

Rainbow Media Holdings LLC is a subsidiary of Cablevision Systems Corporation (NYSE: CVC). Rainbow Media creates and manages some of the country's most compelling and dynamic entertainment brands including popular national and regional television channels AMC, fuse, The Independent Film Channel (IFC), WE tv, and three FSN affiliated regional sports networks managed by Rainbow Sports Networks. The company also manages Mag Rack and sportskool, two original on-demand networks; VOOM HD Networks, the largest and most diverse suite of high definition channels available anywhere; IFC Entertainment, its film distribution, production and exhibition division; Rainbow Advertising Sales Corporation, its advertising sales division; and Rainbow Network Communications, its full service network programming origination and distribution company.

ABOUT THE WEINSTEIN COMPANY

The Weinstein Company was created by Bob and Harvey Weinstein, the brothers who founded Miramax Films Corp. in 1979. TWC is a multi-media company that officially launched on October 1, 2005. Dimension Films, the genre label that was founded in 1993 by Bob Weinstein, is also included under TWC banner. The Weinstein's are actively working on the production, development and acquisition of projects for TWC.