Miramax co-boss Harvey Weinstein, whose company has enjoyed phenomenal success with films such as Shakespeare in Love and Cider House Rules, among many others, has revealed a new-found desire to revitalise Americans' interest in European films that "travel".

Variety reports that the larger-than-life producer, whose company was also responsible for the US release of foreign-language hits Life is Beautiful and The Postman (Il Postino), spent an hour dispensing his words of wisdom on film-making and life in general yesterday at a marathon panel session at the Cannes Film Festival.

The key, in Weinstein's opinion, to successfully releasing foreign films, is guiding them towards an international audience rather then seeing them languish in local markets.

He cited the Italian picture Mediterraneo, noting that it might have missed its chance at the 1991 foreign-language Oscar had he and the producers not cut roughly 30 minutes of dialogue that centred on north-south conflicts.

Other highlights included a criticism of US film schools who, he reckoned, failed to teach film-makers about the classics and film history, along with film-makers who come from the video world without that history.

Regarding the dot-com explosion, Weinstein said he didn't believe in the concept of a virtual market. "I don't get it," he said, "when you lose $700m (£468m) and become rock stars for it. It's all on paper. It's a gold-rush mentality."

But he also admitted that Miramax is taking a "portfolio approach" to forming alliances with internet companies such as Go.com and sightsound.com.