Weinstein Co.’s owners have entered exclusive negotiations to sell the embattled studio to a group led by businesswoman Maria Contreras-Sweet for a little more than $500 million, people close to the talks said.
The owners of the studio behind “The King’s Speech” "Pulp Fiction" and “Django Unchained” have agreed to a two-week exclusivity period through the end of next week with Ms. Contreras-Sweet’s team, two of the people said.
The Weinstein Copany had been preceded by Miramax, the company the founding brothers Bob and Harvey started in 1979, which was bought by the Disney Company in 1993. The business relationship proved a rocky one however, and Disney and the borthers parted company in 2010, with the former company retaining the Miramax name.
When myriad sexual assault and harassment claims were brought against Harvey in 2017, touching off the #METoo movement, the company dismissed him and he was also expelled from the Academy of Motion Picture Arts and Sciences.
Through Miramax and then The Weinstein Company, Harvey and Bob Weinstein became two of the leading forces behind the independent film movement of the 1990s -- in the process making millions of dollars and earning more than 300 Oscar nominations, with 80 wins.
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