Weinstein Co., Overwhelmed by Backlash, May Be Up for Sale - NBC 10 Philadelphia
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Weinstein Co., Overwhelmed by Backlash, May Be Up for Sale

The company said Monday that it is getting an immediate cash infusion from Colony Capital, founded by a close adviser to President Donald Trump

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    Hollywood producer Harvey Weinstein admits to groping an Italian model in a recording made by police in 2015, which was obtained by The New Yorker. The New York Police Department never charged Weinstein with a crime. Weinstein’s spokesperson released a statement on Oct. 10, saying Weinstein denies any allegations of non-consensual sex.

    (Published Wednesday, Oct. 11, 2017)

    The Weinstein Co., besieged by sexual harassment allegations against its namesake and co-founder, may be putting itself up for sale.

    The company said Monday that it will receive an immediate cash infusion from Colony Capital and is in negotiations for the potential sale of all or a significant portion of the company responsible for producing films such as "Django Unchained," ''The Hateful Eight" and "Lion."

    Colony Capital, the private-equity arm of Colony NorthStar, was founded by Thomas Barrack, a close adviser to President Donald Trump. Barrack chaired Trump's presidential inaugural committee.

    Harvey Weinstein was fired last week by the film production company he helped create. The allegations of sexual harassment and assault against Weinstein span decades and include many of the film industry's leading actresses.

    Harvey Weinstein Ousted From His Production Company

    [NATL] Harvey Weinstein Ousted From His Production Company

    Media mogul Harvey Weinstein was fired from the company he co-founded days after The New York Times published a report on decades of sexual harassment allegations against him.

    (Published Monday, Oct. 9, 2017)

    The backlash has been severe as more women go public with their interactions with Weinstein.

    Law enforcement in the U.S. and Europe are taking a new look at past allegations.

    The Academy of Motion Picture Arts and Sciences has revoked his membership, as has the British Academy of Film and Television Arts.

    "This has got to be a fire sale," said Richard Levick, chairman and CEO of crisis-management firm Levick International. He added that while he doesn't think anyone would be interested in buying the Weinstein name, they might be interested in "buying the pieces."

    Amazon Studios, the growing film arm of Amazon, cut ties with the Weinstein company last week. Robert De Niro, Julianne Moore and director David O. Russell scrapped an untitled Amazon Studios series that was being produced by The Weinstein Co.

    Showtime has threatened to pull out of an Oliver Stone drama in development, "Guantanamo," because Weinstein Co. is a producer.

    Reporter Speaks Out About Movie Mogul Allegations

    [NATL-NY] Reporter Speaks Out About Movie Mogul Allegations

    For the first time journalist Lauren Sivan has spoken out about the Harvey Weinstein sexual misconduct allegations, saying she was lured to a New York restaurant by the movie mogul, where he exposed himself to her. Erica Byfield reports.

    (Published Tuesday, Oct. 10, 2017)

    The Producers Guild of America has voted unanimously to institute termination proceedings for Weinstein on disciplinary grounds.

    The PGA's National Board of Directors and Officers said Monday that Weinstein has an opportunity to respond before a final decision is made on Nov. 6.

    "The stink from this is so substantial that it makes almost anyone to try to defend them to become an untouchable," Levick said.

    Word of a potential sale comes just three days after Bob Weinstein, who helped found the company with his brother, Harvey, said that a sale was not an option.

    "We are pleased to invest in The Weinstein Company and to help it move forward," Colony said Monday. "We will help return the company to its rightful iconic position in the independent film and television industry."

    Now, Colony will have to weigh a sale price against "brand liability," Levick said. This includes unknown things such as how many more women may come forward.

    'Late Night' Women Writers Respond to Harvey Weinstein

    [NATL] 'Late Night' Women Writers Respond to Harvey Weinstein

    Seth Meyers turns it over to the women writers of "Late Night," who respond to the claims of sexual harassment against movie producer Harvey Weinstein.

    (Published Tuesday, Oct. 10, 2017)

    The list of women alleging harassment and assault by Harvey Weinstein continues to grow. More than 30 women, including actresses Angelina Jolie, Ashley Judd and Gwyneth Paltrow — have spoken out.

    Business writer Stanley J. Choe contributed to this report.