An investing group said it reached a last-minute deal to acquire the assets of Weinstein Co., potentially allowing the embattled movie studio to avoid a planned bankruptcy and laying the groundwork to settle government lawsuits stemming from allegations that former co-chairman Harvey Weinstein had engaged in sexual misconduct.
Backed by investor Ron Burkle and led by businesswoman Maria Contreras-Sweet, the buyers would assume $225 million in Weinstein Co. debt and commit to invest about $275 million to launch a new company, said a person with knowledge of the deal.
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