The Weinstein Co. has agreed to sell its assets to an investment team led by Maria Contreras-Sweet and Ron Burkle, the company's board of directors confirmed Thursday night.
Most of the company's 150 employees will be invited to stay at its new iteration, and the deal should ensure that small businesses owed money by The Weinstein Co. are paid. Contreras-Sweet said they will launch a new studio with a board of directors made up mostly of women and create a $90 million fund to compensate women who were allegedly sexually harassed and abused by the once-powerful producer Harvey Weinstein. Since last fall, when The New York Times published allegations of misconduct against Weinstein, the company has been sued by several women who say the board was complicit in Weinstein's harassment.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Discrimination: Expanding the definitionFeature The Supreme Court ruled in favor of a straight woman who sued her gay boss for discrimination
-
Crime: Why murder rates are plummetingFeature Despite public fears, murder rates have dropped nationwide for the third year in a row
-
Education: America First vs. foreign studentsFeature Trump's war on Harvard escalates as he blocks foreign students from enrolling at the university
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
