Weinstein Company sale collapses
- 6 years ago
The sale of the Weinstein Company has fallen through yet again.
The world-famous film studio was days away from filing for bankruptcy last week before an organisation headed by Maria Contreras-Sweet, billionaire Ron Burkle and Lantern Capital struck a deal to purchase the company's assets, but they have now pulled out after receiving some "disappointing information".
According to Deadline, the buyers group pulled out after discovering some undisclosed liabilities, including $27 million in residuals and profit participation, $20 million in accounts payable, and $17 million in a commercial arbitration award.
The Weinstein Company is now expected to move into bankruptcy over the coming weeks, and Maria hasn't ruled out using that process to help her to further her film studio "vision".
The world-famous film studio was days away from filing for bankruptcy last week before an organisation headed by Maria Contreras-Sweet, billionaire Ron Burkle and Lantern Capital struck a deal to purchase the company's assets, but they have now pulled out after receiving some "disappointing information".
According to Deadline, the buyers group pulled out after discovering some undisclosed liabilities, including $27 million in residuals and profit participation, $20 million in accounts payable, and $17 million in a commercial arbitration award.
The Weinstein Company is now expected to move into bankruptcy over the coming weeks, and Maria hasn't ruled out using that process to help her to further her film studio "vision".