While Bob Weinstein tried desperately to retain business-as-usual posturing as the allegations of sexual harassment and assault against his brother, Harvey Weinstein, began to grow, it didn’t take long for The Weinstein Company put themselves up for sale. Colony Capital have been kicking the tires on buying part or all of the studio, however the deadline for negotiations ends today, and it doesn’t look like they’ll be investing in the embattled company. So, what happens next?
Well, even if the brand is forever tarnished, The Weinstein Company still has assets (catalog titles, TV shows, and more) that carry some value. Viacom, Lionsgate, MGM, and more will all apparently take a look at what’s available, but there’s a caveat. The studio is reportedly “hundreds of millions in debt,” and some of the buyers have already said they’re not forking over any cash until The Weinstein Company properly files for — you guessed it — bankruptcy.
As for anybody buying the studio outright, that seems unlikely at this point. It seems like The Weinstein Company will be dismantled piece by piece, and the once mighty company will be reduced to rubble. It’s a fate that certainly feels like a small measure of justice for the many, many lives Harvey Weinstein ruined, but it won’t erase the damage that has been done. [Variety]