‘Yellowstone’ Producer David Glasser Is Sued Over $1 Million Loan, Then Pays It Off

David Glasser, a veteran producer once known as the “third Weinstein brother,” has had a vibrant post-Weinstein career, with his 101 Studios churning out “Yellowstone” and various spinoffs.

But Glasser has not entirely escaped financial turmoil.

Bob Yari, the producer of “Crash” who has long worked with Glasser, sued him on Tuesday for nearly $1 million — the balance of an unpaid personal debt.

After Variety inquired about it on Tuesday night, Glasser paid off the debt on Wednesday.

“The matter has been resolved,” said Yari’s lawyer, Behzad Nahai, on Wednesday afternoon. “The full balance has been wired.”

According to the lawsuit, Yari agreed to loan Glasser $1.5 million in January 2022, at a 6% annual rate. The original agreement called for full repayment within a year.

That didn’t happen, according to the suit. By April 2024, Glasser had repaid nothing and owed $1.7 million.

Glasser and Yari then entered into a forbearance agreement, whereby Glasser would repay $250,000 immediately, plus $50,000 a month for a year, after which the full amount would come due. The interest rate was increased to 10%.

Glasser did make the initial payments, whittling down the balance over the following year. But on the maturity date, he did not come through with the payoff, the suit alleges, instead offering only another $50,000.

“After application of such $50,000 payment, the outstanding principal sum of $952,144 remains due and outstanding under the Note and the Forbearance Agreement, which amount is accruing interest at the per diem amount of $264.48 per day,” the lawsuit states.

Nahai said the balance was actually lower, because the lawsuit did not account for a small partial payment.

The original loan was intended to be secured by Glasser’s properties in Lake Arrowhead and Indio. However, Glasser never signed the deeds of trust and they were not recorded, leaving the loans unsecured.

Yari formed a new company, Magenta Light Studios, last year, after leaving WonderHill Studios.

The new company released “Bride Hard,” starring Rebel Wilson, last month. The company also recently announced a joint venture with Evoke Entertainment and Freefall Films to co-produce and co-distribute indie films.

Glasser is CEO of 101 Studios, which has produced many shows with Taylor Sheridan, including “Yellowstone,” “Tulsa King,” and “Landman.” Before launching the company, he was chief operating officer of the Weinstein Co., which collapsed into bankruptcy in 2018.

“This matter has been settled and paid in full and the fact that Mr. Yari wants to conduct business this way is very unfortunate,” a 101 Studios spokesperson said in a statement. “He was there on day one of the company and we truly appreciate that. He lent money and now he wants to call on it. That’s fine, we owe him nothing now and wish him all the best.”