The Weinstein Company is mulling over the sale of “all or a significant portion” of its assets amid growing allegations of sexual assault by film producer Harvey Weinstein.
The independent film studio confirmed that it had entered into “a negotiating period” with private equity firm Colony Capital over a potential deal.
Colony Capital has also reached a preliminary agreement to provide an “immediate” capital injection for The Weinstein Company that could provide a financial lifeline to the firm, but did not disclose the total sum.
The announcement made no reference to a growing scandal surrounding Weinstein, who is facing a litany of rape, harassment and assault accusations from a number of women including some of the film industry’s biggest stars.
Weinstein has been dismissed from the firm, but questions have been raised over what the independent film studio’s board may have known about the movie mogul’s actions.
Weinstein Company board member Tarak Ben Ammar 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.
“Colony’s successful experience and track record in media and entertainment will be invaluable to the company as we move forward.”
US banking giant Goldman Sachs last week confirmed it was “exploring options” for its near $1 million (£752,000) stake in the company.
“There is no place for the inexcusable behaviour that had been reported, and we strongly condemn it,” a Goldman Sachs spokesperson said.
Actress Alice Evans has described an “Orwellian type of fear” surrounding Harvey Weinstein. She made the comments as the Metropolitan Police investigate five allegations involving Weinstein, dating back to the late 1980s.
Evans became one of the latest women, at the weekend, to reveal an encounter with the movie mogul, saying that when she rejected his advances he told her: “Let’s hope your boyfriend’s career goes well.”
“That has stayed with me forever,” she said of the comment about Liar actor Ioan Gruffudd, who had just screen-tested for a Weinstein film. “It’s repugnant to me that he would say that because we all know what he meant.”