The Weinstein Company said this morning it is receiving an investment from the private equity firm Colony Capital. The company added that it is also negotiating with Colony about a “potential sale of all or a significant portion of the Company’s assets.”
The movie studio has been in throes of chaos ever since the New York Times and the New Yorker published shocking sexual assault allegations about its founder, Harvey Weinstein. Since the stories went live, Weinstein has stepped down and he’s been stripped of numerous honors–including his place on the Motion Picture Academy. According to anonymous reports, the Weinstein Company has considered renaming itself.
If the embattled company sells its assets, Colony will receive a treasure trove of film and television titles. “We will help return the Company to its rightful iconic position in the independent film and television industry,” said the firm’s founder, Thomas Barrack, in the press release.