Weinstein Company board in talks over possible sale after Harvey Weinstein sexual assault scandal

The film production business has entered into an agreement with US private equity firm Colony Capital

Emma Featherstone
Monday 16 October 2017 16:43
Comments
Harvey Weinstein was expelled from the  Academy of Motion Picture Arts and Sciences on Saturday
Harvey Weinstein was expelled from the Academy of Motion Picture Arts and Sciences on Saturday

The board of the Weinstein company, which was co-founded by Harvey Weinstein, is in talks over a possible sale.

Following the revelations about its co-founder, the group said it has entered into a preliminary agreement with US private equity firm Colony Capital over a possible sale of all, or significant part of, its assets.

The future of the company is uncertain after film producer Harvey Weinstein was accused of sexual harassment and assault. He was subsequently fired from the board of his company.

In a statement, board member Tarak Ben Ammar said: "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."

The Weinstein Company was founded in 2005 and has produced many box office hits and award-winning films including Shakespeare in Love and The King's Speech.

On Saturday, the Academy of Motion Picture Arts and Sciences expelled Harvey Weinstein.

Colony Capital previously owned film production company Miramax, which was also co-founded founded by Harvey Weinstein and his brother Bob Weinstein. The private equity firm bought it from Disney in 2010 and sold it to a Qatari broadcaster called BeIn Media last year.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in