The Weinstein Company to File For Bankruptcy

Beleaguered film studio The Weinstein Company will file for bankruptcy after it failed to sell its assets to new investors.

As reported by the L.A. Times, a proposed $500 million deal collapsed after the New York attorney general’s office brought a civil rights lawsuit against The Weinstein Company.

The deal would apparently have included a $40 million fund for Weinstein’s victims – although Attorney General Eric Schneiderman called into question whether that fund would have materialised, based on sale documents he’d reviewed.

The board released a statement after it became clear that no compromise would be made with the potential buyers:

Continue reading…

Leave a reply