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Movies

Weinstein Co., overwhelmed by backlash, may be up for sale

NEW YORK (AP) – 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.

Law enforcement in the U.S. and Europe are taking a new look at past allegations.

The Academy of Motion Picture Arts and Sciences has revoked his membership, as has the British Academy of Film and Television Arts.

Amazon Studios, the growing film arm of Amazon, cut ties with the Weinstein company last week. Robert De Niro, Julianne Moore and director David O. Russell scrapped an untitled Amazon Studios series that was being produced by The Weinstein Co.

Showtime has threatened to pull out of an Oliver Stone drama in development, “Guantanamo,” because Weinstein Co. is a producer.

Word of a potential sale comes just
3 days after Bob Weinstein, who helped found the company with his brother, Harvey, said that a sale was not an option.

“We are pleased to invest in The Weinstein Co. and to help it move forward,” Colony said Monday. “We will help return the company to its rightful iconic position in the independent film and television industry.”

The list of women alleging harassment and assault by Harvey Weinstein continues to grow. More than 30 women, including actresses Angelina Jolie, Ashley Judd and Gwyneth Paltrow, have spoken out.

___

Business writer Stanley J. Choe contributed to this report.

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