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| The Weinstein Company in talks on possible sale | The Weinstein Company in talks on possible sale |
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| The Weinstein Company is in talks to sell to a private equity company in the wake of the sexual harassment and assault allegations against its co-founder Harvey Weinstein. | The Weinstein Company is in talks to sell to a private equity company in the wake of the sexual harassment and assault allegations against its co-founder Harvey Weinstein. |
| The film production business has entered into an agreement with buyout firm Colony Capital to secure an “immediate capital infusion”, as the company fights for its future. | The film production business has entered into an agreement with buyout firm Colony Capital to secure an “immediate capital infusion”, as the company fights for its future. |
| The Weinstein Company said that it has also entered negotiations with Colony Capital for a “potential sale of all or a significant portion” of the company’s assets. | The Weinstein Company said that it has also entered negotiations with Colony Capital for a “potential sale of all or a significant portion” of the company’s assets. |
| “We believe that Colony’s investment and sponsorship will help stabilise the company’s current operations, as well as provide comfort to our critical distribution, production and talent partners around the world,” said Tarak Ben Ammar, a board member at the Weinstein Company. | |
| At the weekend Bob Weinstein said in an interview with the Hollywood Reporter that the company “had good enough finances” and was preparing to adopt a new name that would have no links to the tarnished Weinstein brand. | At the weekend Bob Weinstein said in an interview with the Hollywood Reporter that the company “had good enough finances” and was preparing to adopt a new name that would have no links to the tarnished Weinstein brand. |
| The company has produced a string of box office and critically acclaimed hits since being founded by Bob and Harvey Weinstein in 2005, with credits including The King’s Speech, Shakespeare in Love and Silver Linings Playbook. | The company has produced a string of box office and critically acclaimed hits since being founded by Bob and Harvey Weinstein in 2005, with credits including The King’s Speech, Shakespeare in Love and Silver Linings Playbook. |
| However, the allegations against Harvey Weinstein – who has been accused of sexual misconduct from more than two dozen women and three of rape – has made the company a pariah and forced its management into a sale. | However, the allegations against Harvey Weinstein – who has been accused of sexual misconduct from more than two dozen women and three of rape – has made the company a pariah and forced its management into a sale. |
| The 65-year-old, who has been expelled by his peers at the body that runs the Academy awards, had denied all allegations of non-consensual sex. | |
| Colony Capital said that it intends to return the Weinstein Company to its “rightful iconic position” in Hollywood. | |
| “We believe the company has substantial value and growth potential, and we look forward to working with the company’s critical strategic distribution and production partners to help preserve and create value for all stakeholders, including its employees,” said Thomas Barrack, founder and executive chairman of Colony Capital. “We will help return the company to its rightful iconic position in the independent film and television industry.” | |
| Barrack is a longtime friend, ally and donor to Donald Trump, and headed the president’s inauguration committee. | |
| On Friday Amazon Studios, which has suspended its content chief Roy Price over sexual harassment allegations, severed ties with the Weinstein Company and ditched a series starring Robert De Niro and Julianne Moore. | On Friday Amazon Studios, which has suspended its content chief Roy Price over sexual harassment allegations, severed ties with the Weinstein Company and ditched a series starring Robert De Niro and Julianne Moore. |
| Colony Capital is a previous owner of film studio Miramax which it bought from Disney for $660m (£497m) in 2010 and sold to Qatari broadcaster BeIn Media last year. Bob and Harvey Weinstein founded Miramax, the studio behind films such as Pulp Fiction, No Country for Old Men and The English Patient, three decades ago and sold it to Disney in 1993. | Colony Capital is a previous owner of film studio Miramax which it bought from Disney for $660m (£497m) in 2010 and sold to Qatari broadcaster BeIn Media last year. Bob and Harvey Weinstein founded Miramax, the studio behind films such as Pulp Fiction, No Country for Old Men and The English Patient, three decades ago and sold it to Disney in 1993. |