Weinstein Co. in sale negotiations to ‘stabilize the company’s current operations’
Oct. 16, 2017, 9:56 a.m.
Weinstein Co. in sale negotiations to ‘stabilize the company’s current operations’
| Samantha Masunaga and Ryan Faughnder |
The Weinstein Co., beset by sexual harassment and assault allegations against ousted co-founder Harvey Weinstein, announced Monday that it is in negotiations to sell part or all of itself to Colony Capital.
The company — known for producing films such as “Silver Linings Playbook,†“Django Unchained†and “The Iron Lady,†as well as the reality television series “Project Runway†— also said it has a preliminary agreement for Colony Capital to give it an immediate cash infusion.
“We believe that Colony’s investment and sponsorship will help stabilize the company’s current operations, as well as provide comfort to our critical distribution, production and talent partners around the world,†Weinstein Co. board member Tarak Ben Ammar said Monday in a statement. “Colony’s successful experience and track record in media and entertainment will be invaluable to the company.â€
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