The Story:
The Weinstein Company (TWC) the movie studio co-founded in 2005 by Harvey and Bob Weinstein, is in negotiations to sell itself to Colony Capital.
Truth and Consequences:
The fall-out from the exposure of Harvey Weinstein’s history as a sexual predator continues. TWC at first issued conflicting responses to reports that it was looking for a shutdown or sale of the company. But on October 16 the picture became clearer — Colony Capital is providing an “immediate capital infusion” so TWC can continue as a going concern while the two entities negotiate about a sale of “all or a significant portion of the Company’s assets.”
The Thing to Know:
Colony already has experience with the film and television business. It bought Miramax from The Walt Disney Company seven years ago.
