Weinstein Company In Talks With Trump Ally’s Firm
The Weinstein Company has entered talks to sell the bulk of its assets to private equity firm Colony Capital, the companies said on Monday, as the film production company looks for stability after the departure of co-founder Harvey Weinstein.
The announcement about the deal talks comes only days after co-Chairman Bob Weinstein, Harvey’s brother and the other co-founder, denied the firm was seeking to sell or shut down after firing Harvey Weinstein following accusations that he sexually harassed or assaulted a number of women over the past three decades.
Colony Capital, which has about $20 billion in assets under management, will provide an immediate capital infusion into Weinstein Co and is in talks to buy all or a significant portion of its assets, the companies said in a statement.
Thomas Barrack, founder and executive chairman of Colony Capital, is no stranger to the film business. His firm and the Qatar Investment Authority sold movie production and distribution company Miramax to BeIN Media Group last year after buying it in 2010.
Barrack is a friend of U.S. President Donald Trump and served as chairman of his inaugural committee.
A message from our CEO & publisher Rachel Fishman Feddersen
I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.
At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and polarized discourse.
Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.
— Rachel Fishman Feddersen, Publisher and CEO
