Weinstein Co., mired in sex scandal, may be up for sale

NEW YORK (AP) — The Weinstein Co., mired in a sex scandal, 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.

Co-founder Harvey Weinstein was fired by the company last week following allegations of sexual harassment and assault. The allegations span decades and include many of the film industry’s leading actresses.

The fallout has been swift after Weinstein issued a lengthy and seemingly tone-deaf apology. The Academy of Motion Picture Arts and Sciences has revoked his membership as has the British Academy of Film and Television Arts.

Amazon Studios, the growing film arm of Amazon, cut ties with the Weinstein company last week. Showtime has threatened to pull out of an Oliver Stone drama in development, “Guantanamo,” because Weinstein Co. is a producer.

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

Word of a potential sale comes just three days after Bob Weinstein, Harvey’s brother, said that selling the company 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.”

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.

News

Athens makes a splash with groundbreaking of Sunrise Park

More Stories

Gov. Ivey signs a pair of senate bills into law

News

Commission approves agreement for roadway improvements at Pryor Field

More Stories

Alabama’s road conditions ranked second best in the United States

More Stories

Gov. Ivey commutes death sentence for 1991 Decatur murder prisoner

More Stories

42nd Alabama State Games registration opens

More Stories

Alabama Republican Party re-elects John Wahl as Chairman

More Stories

Warning siren failure in Limestone County

News

‘Great things ahead’: Mayor Marks shares insights on city’s future in annual address

More Stories

Grammy-nominated singer Angie Stone dies in Montgomery car crash

More Stories

Limestone County outdoor warning sirens malfunctioning

News

Melson disputes patient’s version of conversation regarding purchasing medical cannabis ‘off the street’

More Stories

Homeland Security recognizes ALEA as Partner of the Year

More Stories

Athens earns 2024 Tree City USA recognition from Arbor Day Foundation

More Stories

Teacher of the Year: Anna Thompson

News

‘Justice was served’: Limestone County jury finds Morgan County man guilty of murder after 10-day trial

News

Brookyln’s brave battle: The inspiring journey of a local kids life with spinal muscular atrophy

More Stories

Teacher of the Year: Jennie Fullmer

More Stories

Teacher of the Year: Kaitlin Sparkman

More Stories

Ardmore welcomes new family medicine center

More Stories

Hit and run claims life of Athens man

More Stories

LCSO arrest Athens man for infant abuse

News

Final Curtain Call: Beloved Band Director Dan Havely passes away

News

Calhoun Community College to go virtual due to impending weather