Weinstein Company To Get Large Infusion Of Cash
"We will help return the company to its rightful iconic position in the independent film and television industry."
ByJames Barrett
October 16, 2017
12.1k views
After firing its embattled co-founder amid a flood of sexual harassment, assault, and rape allegations, The Weinstein Company has managed to secure a large infusion of cash from a private equity firm "to provide comfort to our critical distribution, production and talent partners around the world."
According to the BBC, The Weinstein Co. has "entered a preliminary deal with US private equity firm Colony Capital," the same group that purchased the Weinstein-founded Miramax from Disney in 2010. The investment firm said in a statement Monday that it has agreed to inject funds immediately into TWC as part of a significant equity deal.
The news comes as TWC faces a PR crisis that threatens to bring the influential, award-winning entertainment company crashing down.
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