The Weinstein Company, set up by Bob and Harvey Weinstein in 2005, is up for grabs with about half a dozen potential buyers seeking to buy the film studio in its entirety or some of its assets. Following the ouster of disgraced chief Harvey Weinstein in the wake of multiple allegations of sexual assault, the independent film studio is expected to be sold for less than $500 million, according to The Wall Street Journal. The buyout will include assumption of debt worth hundreds of millions of dollars.
Leading the potential buyers is a group of investors led by Maria Contreas-Sweet, according to insider information accessed by Deadline Hollywood. Contreas-Sweet reportedly plans to put in place an all-women board of directors in the company.
The other bidders include Killer Content, a company that produced award-winning titles such as Carol and Still Alice, top Hollywood studio Lionsgate, Shamrock Capital, and Vine Capital.
Harvey Weinstein was fired from the company in October following multiple accusations of sexual assault and rape. Criminal investigations against Weinstein are in progress. He has denied all the charges made against him.