Miramax bid for Weinstein Co. complicates sale process - LA Times
Jan 16 (Reuters) - An attempt by Qatar-owned film company
Miramax to buy Weinstein Co. has complicated plans to sell the
studio to a group of investors led by former Obama
administration official Maria Contreras-Sweet, the Los Angeles
Times reported on Tuesday, citing people familiar with the
In November, Contreras-Sweet put together a consortium of
investors who offered $275 million for The Weinstein Co.
But Harvey and Bob Weinstein, who co-founded Weinstein Co.
in 2005 and own about 46 percent of the business, have been
trying to steer the company toward a deal with Miramax, the Los
Angeles Times said. (http://lat.ms/2rfbVAU)
The Weinstein Company has been looking for a buyer or rescue
financing since last fall as the studio continues to grapple
with the fallout of sexual harassment allegations against former
co-chairman, Harvey Weinstein, who left the company three months
The company's investment bankers at Moelis & Co have
been focused on an outright sale, rather than a debt
restructuring or bankruptcy.
On Monday, Killer Content Inc, the movie producer that has
partnered with philanthropist Abigail Disney in a consortium
vying to acquire the Weinstein Company, said a bankruptcy may be
the best way forward for the embattled U.S. film and TV studio.
Both Miramax and Weinstein Co could not be immediately
reached for a comment.
(Reporting by John Benny in Bengaluru)
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