Weinstein Company In Talks To Sell Itself To Colony Capital

Despite repeated denials from Bob Weinstein and the Weinstein Company Board that the Hollywood studio was exploring a sale or shutdown after former executive Harvey Weinstein’s 30-year history of using his position to harass and assault actresses was exposed, the Weinstein Company revealed that it’s negotiating a sale of “all or a significant portion of” its major assets to Colony Capital, the private-equity arm of investment firm Colony NorthStar Inc.
The two companies have already entered into a preliminary agreement whereby Colony is providing Weinstein with a needed capital infusion – again appearing to contradict executives’ claims that the studio is in strong financial health despite the scandal. Financial terms of the investment weren’t immediately disclosed.

This post was published at Zero Hedge on Oct 16, 2017.