Weinstein Co. Seeks New Buyer to Avoid Bankruptcy, Says Employees Will Still Be Paid
The Weinstein Company is still seeking a buyer after the withdrawal of investors Maria Contreras-Sweet and Ron Burkle, executive Bob Weinstein informed employees on Thursday.
After months of chaos following the sexual assault scandal surrounding former CEO Harvey Weinstein, his brother Bob informed staff that “payroll obligations will continue to be met” while the board of directors seeks a new owner.
“The board is still in discussions with potential buyers who want to keep the company and employees as a going concern,” Weinstein wrote in a companywide email obtained by TheWrap. About 157 people work across the film and TV studios.