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The movie, currently in production, was to be released by Miramax Films, which Disney owns.
CNN: Showbuzz
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Theaters show trailers such as Miramax Films' "Shakespeare in Love" for free, at the urging of studios.
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"There's no cash, but there's a ton of begging, " says Mark GIl, the West Coast president of Miramax Films.
CNN: Movie previews: Love 'em or hate 'em, they're here to stay
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Dimension is a unit of The Weinstein Co, which Weinstein and brother Bob launched in 2005 after they left Miramax Films.
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Previous Work Experience: Started earning my stripes (and war wounds) in 2003 by working in Publicity, Finance and Physical Production Departments at Miramax Films and then Focus Features.
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It has already reached agreements with Miramax , Lions Gate , BBC and MGM for television shows and films.
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Since then Miramax has become an increasingly odd duck at Disney as the studio focuses more on Disney branded films.
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"From day one, we've been very clear about the importance of digital and our desire to respond to the significant pent-up demand for our films -- delivering to consumers whenever and wherever they want, " said Mike Lang, CEO of Miramax.
ENGADGET: Netflix seals deal to stream Miramax movies, starting in June