Weinstein Co. Sale By Female-Led Investor Group Deal Collapses
The majority-female investor group led by Maria Contreras-Sweet that was eyeing up Weinstein Company has backed out of the deal.
By Cody Briana on March 7, 2018
Boo! I was wishing these women would make it happen. The majority-female investor group led by Maria Contreras-Sweet that was eyeing up Weinstein Company has backed out of the deal, Billboard reports. The buyers were originally going to purchase the film studio for $500 million, agreeing to assume roughly $225 million of debt. However, after signing last week’s sale agreement and gaining access to the books, they discovered an additional $50 million-$64 million in liabilities they were not aware of. TWC calls their decision an “excuse,” saying the investors knew they were on the brink of bankruptcy.
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