David Glasser: A Resilient Producer’s Journey Through Financial Challenges
David Glasser, a seasoned producer often referred to as the “third Weinstein brother,” has successfully navigated a vibrant post-Weinstein career. As the head of 101 Studios, he has been instrumental in the production of hit series like “Yellowstone” and its various spinoffs. However, Glasser recently faced some financial hurdles when Bob Yari, the producer behind the Oscar-winning film “Crash” and a longtime collaborator, filed a lawsuit against him for nearly $1 million—an outstanding personal debt.
On Tuesday evening, following an inquiry from Variety, Glasser swiftly addressed the financial issue, settling the debt by Wednesday. “The matter has been resolved,” confirmed Yari’s attorney, Behzad Nahai, on Wednesday afternoon. “The full balance has been wired.”
The lawsuit indicates that Yari initially lent Glasser $1.5 million in January 2022, with a 6% annual interest rate and an agreement for full repayment within one year. By April 2024, Glasser had not repaid any of the loan, resulting in a total debt of $1.7 million. To address this, the two entered into a forbearance agreement, allowing Glasser to pay $250,000 upfront, followed by monthly installments of $50,000 for a year, with the total amount due thereafter. The interest rate was subsequently increased to 10%.
While Glasser fulfilled the initial payments and reduced the balance over time, he failed to meet the final payment deadline, allegedly offering only another $50,000 instead. According to the lawsuit, after this partial payment, a principal sum of $952,144 remained outstanding, accruing interest at a rate of $264.48 per day.
Nahai noted that the actual balance was lower than stated in the lawsuit, as it did not reflect a small partial payment. Initially, the loan was intended to be secured by Glasser’s properties in Lake Arrowhead and Indio; however, Glasser never signed the deeds of trust, leaving the loans unsecured.
In a parallel development, Yari launched a new venture, Magenta Light Studios, last year after departing from WonderHill Studios. The company recently released “Bride Hard,” featuring Rebel Wilson, and announced a joint collaboration with Evoke Entertainment and Freefall Films to co-produce and distribute independent films.
As CEO of 101 Studios, Glasser has collaborated with renowned creator Taylor Sheridan on numerous projects, including “Tulsa King” and “Landman.” Before establishing his company, Glasser served as the COO of the Weinstein Co., which filed for bankruptcy in 2018.
In response to the lawsuit, a spokesperson for 101 Studios stated, “This matter has been settled and paid in full. It’s unfortunate that Mr. Yari has chosen to conduct business this way. He has been with us since day one, and we genuinely appreciate his support. While we acknowledge the debt, it has been resolved, and we wish him all the best moving forward.”
David Glasser’s ability to overcome challenges and continue producing successful content is a testament to his resilience in the ever-evolving entertainment industry.
