Proposed Sale Of Weinstein Company Blown Away

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Because you’re reading this news article, it’s safe to assume you’ve heard Harvey Weinstein’s name tossed around news media outlets ad nauseam. If you’re not familiar with Weinstein, the now-former movie business executive was accused of having forced, illegal sexual relations with more than 80 women over the past three decades.

The movie industry had long rumored that Harvey Weinstein committed sexual assault crimes against movie industry hopefuls willing to do anything to have a chance at success, though public opinion against Weinstein never materialized until just a few months ago.

So, what’s new with Harvey Weinstein? Probably nothing, unless the extensive list of 81 accusers has since grown. Something has changed in The Weinstein Company, a cinematic organization founded by Harvey and brother Bob Weinstein some years ago.

A group of investors had been in talks with The Weinstein Company to purchase its assets entirely, leaving both of the Weinstein brothers out of their once-co-owned business, offering to purchase the entity for some $500 million. The group was led by the former lead of the Small Business Administration, Maria Contreras-Sweet, and also included famous investors like Ronald Burkle and well=known private equity company Lantern Asset Management.

Although many believed the trade talks would materialize, actuality has recently indicated the board of The Weinstein Company was unable to sell the company to those investors.

The Weinstein Company, given it would have been purchased by the group, would have adopted a brand-new name to erase the accused and admitted sexual abuser Harvey Weinstein out of its title. Further, the board of the name-changed organization would have been composed of mostly women, given females a voice in the event discrimination or sexual abuse systemically occurred against them, as did when Harvey Weinstein was at the organization.

Lastly, the investing group stated they would raise a minimum dollar amount of $40 million, the entirety of which would have been donated to the 80-odd accusers of Harvey Weinstein.

Just two weeks ago, on February 11, 2018, the attorney general’s office of New York filed a civil suit against The Weinstein Company and its founders, resulting in widespread doubt being floated in the multi-million-dollar fund alleged to soon be created.

Eric Schneiderman, NY’s Attorney General, further expressed distaste in The Weinstein Company’s Chief Operating Office David Glasser for not appropriately responding to tens of women’s complaints about the company’s systemic sexual abuse.

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