Talks still on for Weinstein Company deal: source

February 12, 2018
New York state has filed a lawsuit against disgraced Hollywood producer Harvey Weinstein for "egregious violations" of civil rights

Talks were still on Monday between a group of investors and the troubled Weinstein Company, despite New York prosecutors throwing a spanner in the works by filing a lawsuit against the movie studio, source said Monday.

The , led by former Obama administration official and businesswoman Maria Contreras-Sweet to buy The Weinstein Company for a reported $500 million, was widely reported to have been imminent before the state attorney general filed a lawsuit Sunday.

Prosecutors accuse Weinstein, the company and his brother of failing to protect employees from his alleged despite multiple complaints to human resources.

New York's attorney general said he acted out of fear that the imminent sale could leave victims without adequate redress.

The Wall Street Journal said the deal fell apart because the lawsuit introduced too much uncertainty and that the would now likely enter bankruptcy reorganization.

But a source close to the talks insisted to AFP that negotiations were still on. "The 's comments have shed a new perspective to the deal," the source admitted, calling discussions "very fluid."

"I hope that this deal does not go away for these people's jobs because then there will be nobody monitoring anything," Bob Weinstein was quoted as saying by the Journal.

The bid from the group of investors led by Contreras-Sweet reportedly included a fund to compensate victims and plans to appoint a majority-woman board.

Weinstein's career went into free fall last October after allegations surfaced that he had sexually harassed, assaulted and even raped women going back 40 years. The accusations now come from more than 100 women.

The twice-married father of five is being investigated by British and US police, but has not been charged with any crime. He denies having non-consensual sex and is reportedly in treatment for sex addiction.

Explore further: Twitter steps up fight against sexual harassment

Related Stories

Twitter steps up fight against sexual harassment

October 18, 2017

Twitter has announced tough new rules on tweets containing "non-consensual nudity" and sexual harassment, which could be seen as fallout from the Harvey Weinstein abuse scandal.

Netflix strikes movie deal with Weinstein Co.

August 20, 2013

(AP)—Netflix says it's reached a multi-year agreement with The Weinstein Co. that will give it the exclusive streaming rights to the company's first-run films starting in 2016.

Men at the top play by different rules, expert says

October 20, 2017

Gary Powell, professor emeritus of business, is an internationally recognized scholar and educator on gender, diversity, and work-family issues in the workplace. He has also served as chair of the Women in Management (now ...

Alabama files lawsuit against opioid manufacturer

February 6, 2018

Alabama on Tuesday filed a lawsuit against the manufacturer of OxyContin and other opioids, becoming the latest state seeking to hold drug companies accountable for an addiction epidemic.

Recurring nightmares could reflect your daily frustrations

November 30, 2017

People who are frustrated because their basic psychological needs for autonomy, relatedness and feeling competent are not met are more likely to have a recurring bad dream and to analyze their dreams negatively. This is according ...

Recommended for you

What can snakes teach us about engineering friction?

May 21, 2018

If you want to know how to make a sneaker with better traction, just ask a snake. That's the theory driving the research of Hisham Abdel-Aal, Ph.D., an associate teaching professor from Drexel University's College of Engineering ...

Flexible, highly efficient multimodal energy harvesting

May 21, 2018

A 10-fold increase in the ability to harvest mechanical and thermal energy over standard piezoelectric composites may be possible using a piezoelectric ceramic foam supported by a flexible polymer support, according to Penn ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.