The Weinstein Company is no longer affiliated with the Weinsteins.
The Weinstein Company announced in a statement on Thursday that Bob Weinstein and 3 other board members will resign from their positions on the board on Friday.
Despite Bob Weinstein’s feverish attempt to hold on to his prominent role at the studio he co-founded, the company has chosen to eliminate most of its board members in a clear-cut effort to start anew. The highly publicized accusations of sexual misconduct against Bob’s now-infamous brother, Harvey Weinstein, have taken a toll on the Weinstein Company’s name, leading it to file for bankruptcy and sell itself to Lantern Capital Partners for $289 million.
Bankruptcy consultants have joined the company to help aid in the transition of the bankruptcy sale to Lantern Capital Partners. Ivona Smith, a bankruptcy professional who was added to the board in the Spring, is now the sole remaining member of that board. She has spoken about this unsurprising change, saying, that “’In the face of intense public scrutiny, this Board steered the Company to an orderly sale and maximized value for the Company and its creditors,” Smith said in a statement, “The Company thanks the outgoing Board members for their hard work and contributions. Following the closing of the sale to Lantern, the Company will continue to work expeditiously to wind down the Company and distribute equitably the remaining assets.”
Tamar Skydell is an intern at The Forward. You can contact her at firstname.lastname@example.org
This story "Bob Weinstein Steps down from Weinstein Company Board" was written by Tamar Skydell.