Weinstein Co in negotiations for potential sale

ASSOCIATED PRESS
NEW YORK
Published 18.10.2017 00:27
Updated 18.10.2017 10:45
Harvey Weinstein arrives at the 89th Academy Awards in Hollywood, on Feb. 26.
Harvey Weinstein arrives at the 89th Academy Awards in Hollywood, on Feb. 26.

The Weinstein Co., besieged by sexual harassment allegations against its namesake and co-founder, 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.

Harvey Weinstein was fired last week by the film production company he helped create. The allegations of sexual harassment and assault against Weinstein span decades and include many of the film industry's leading actresses. The backlash has been severe as more women go public with their interactions with Weinstein.

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