Weinstein Co. close to sale — but Harvey won’t cash out
Weinstein Co., the studio co-founded by disgraced Hollywood producer Harvey Weinstein, is close to a sale, according to a report on Thursday.
While there are six bidders for the toxic studio, each offer is for less than $500 million — meaning shareholders, including ?the 65-year-old accused sexual harasser, will get nothing, the report said.
The studio’s debt, operating expenses and legal bills will likely eat up all of the sale price at that level, according to the Wall Street Journal, which first reported on the impending sale.
Weinstein Co. did not respond to requests for comment.
Top contenders to buy the company include a group led by businesswoman Maria Contreras-Sweet; production company Killer Content, working with philanthropist Abigail Disney; and Lionsgate Entertainment. There are ?separate offers from investment firms Vine Alternative Investments and Shamrock Capital Investments.
None of the bidders returned calls for comment.
Contreras-Sweet, one of the more vocal bidders, said she would transform the company into a female-led venture if she ended up purchasing it.