Weinstein Company In Talks With Trump Ally’s Firm
Graphic by Angelie Zaslavsky
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.
This is a moment of great uncertainty. Here’s what you can do about it.
We hope you appreciated this article. Before you go, we’d like to ask you to please support the Forward’s independent Jewish news this Passover. All donations are being matched by the Forward Board - up to $100,000.
This is a moment of great uncertainty for the news media, for the Jewish people, and for our sacred democracy. It is a time of confusion and declining trust in public institutions. An era in which we need humans to report facts, conduct investigations that hold power to account, tell stories that matter and share honest discourse on all that divides us.
With no paywall or subscriptions, the Forward is entirely supported by readers like you. Every dollar you give this Passover is invested in the future of the Forward — and telling the American Jewish story fully and fairly.
The Forward doesn’t rely on funding from institutions like governments or your local Jewish federation. There are thousands of readers like you who give us $18 or $36 or $100 each month or year.
Support our mission to tell the Jewish story fully and fairly.
