The executives outbid the only rival, Sonar Entertainment, and will now pick up all of the assets of The Weinstein Company.
Dallas, Texas-based private equity firm Lantern Capital have won the bidding to take over Harvey Weinstein’s bankrupt production company. The executives outbid the only rival, Sonar Entertainment, and will now pick up all of the assets of The Weinstein Company.
“Lantern’s bid clearly achieves the highest and best value for the estate and its creditors,” according to Ivona Smith, a member of The Weinstein Company Board of Representatives. “We look forward to working with Lantern to close the transaction and consummate the going concern sale.”
The company fell apart towards the end of last year, following the publication of exposes detailing Weinstein’s alleged sexual misconduct. More than 80 women, many of them actresses, have since come forward with sordid tales of experiences with the disgraced producer, who was forced to step down as a board member at his own company in October.
Weinstein is now also being sued by actress Ashley Judd, who was one of the first women to accuse the filmmaker of inappropriate behaviour.
The “Frida” star has filed legal papers in which she accuses the fallen movie mogul of sabotaging her career after she turned down his sexual advances.
Weinstein has responded via representatives, insisting he has never been anything but supportive of Ashley’s career.
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