The Weinstein Company Files For Bankruptcy

The Weinstein Company Files For Bankruptcy

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DELAWARE (CelebrityAccess) The Weinstein Company filed for bankruptcy protection March 19.

TWC, in an effort to save itself after the epic fall of co-founder Harvey Weinstein, said it already has a buyer available, entering into a “stalking horse” agreement with an affiliate of Lantern Capital Partners.

Bidders began having meetings soon after the $500 million bid by Ron Burkle and Maria Contreras-Sweet fell flat in early March, with Lantern Capital in the lead because it was part of that original bid, which means it would not require due diligence again. Miramax, Lionsgate, Vine Investments and Critical Content were also apparently in the running.

“Since October, it has been reported that Harvey Weinstein used non-disclosure agreements as a secret weapon to silence his accusers. Effective immediately, those ‘agreements’ end,” the company said in a statement. “No one should be afraid to speak out or coerced to stay quiet.”

The March 6 bid was all but closed when New York Attorney General Eric Schneiderman filed a civil rights lawsuit that poured cold water on the agreement.

Schneiderman praised the March 19 event as “a watershed moment for efforts to address the corrosive effects of sexual misconduct in the workplace.”

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