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Weinstein Company in talks over possible sale

The Weinstein Company is in talks over a possible sale to a private equity firm.
The company said it had entered a preliminary agreement with Colony Capital over the potential sale of all or a significant portion of its assets.
The Weinstein Company was co-founded by Harvey Weinstein, the Oscar-winning film producer accused of sexually harassing female employees. Reported on BBC.
Harvey Weinstein was fired by the board of his company earlier this month.
Colony Capital has already agreed to make an “immediate capital infusion” into the Weinstein Company.
How the scandal unfolded
Harvey Weinstein’s accusers
UK police investigate new Weinstein claims
Tarak Ben Ammar, a board member of the Weinstein Company, said: “We believe that Colony’s investment and sponsorship will help stabilise the Company’s current operations, as well as provide comfort to our critical distribution, production and talent partners around the world.”
The founder and executive chairman of Colony Capital, Thomas J. Barrack, Jr., said: “We are pleased to invest in The Weinstein Company and to help it move forward.
“We believe the Company has substantial value and growth potential, and we look forward to working with the Company’s critical strategic distribution and production partners to help preserve and create value for all stakeholders, including its employees.
“We will help return the Company to its rightful iconic position in the independent film and television industry.”

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