SAN FRANCISCO (CA)
March 20, 2018
By Brooks Barnes
The Weinstein Co. clung to life longer than anyone in Hollywood expected following a sexual harassment scandal so big that it started a global workplace reckoning.
But the troubled studio finally flatlined.
The Weinstein Co. filed for bankruptcy protection late Monday in U.S. Bankruptcy Court in Delaware. The company had been struggling after one of its co-founders, Harvey Weinstein, was fired as chief executive in October after women publicly accused him of sexual misconduct stretching back decades.
The studio said that it had lined up Lantern Capital Partners, a Texas private-equity firm, as a “stalking horse bidder,” meaning that it will be the first bidder in the bankruptcy process, which allows a distressed company to avoid low bids on its assets.
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