It appears the drama surrounding troubled Hollywood film studio the Weinstein Company may finally be reaching its conclusion.
Amid an unprecedented year which saw the company fire one of its founders, Harvey Weinstein, just days after an extensive New York Times article highlighted numerous sexual harassment accusations, the company will reportedly be sold for under $500 million to one of a handful of bidders.
As reported by the Wall Street Journal, shareholders could potentially lose all equity in the company due to the selling price in addition to recent company flops and legal costs. The Weinstein Company has also reportedly racked up over $500 million in debt, so at this point it remains unclear if prospective buyers will move to buy the rights to Weinstein Co’s content and titles, or buy the company outright.
While the film studio has not produced many meaningful titles in the last few months, most of famed director Quentin Tarantino’s recent projects including The Hateful Eight, Django and Inglorious Bastards have been produced through the company and serve as some of the better movies over the last decade.
Tarantino has publicly expressed regret in regard to the storm surround Harvey Weinstein, stating “I knew enough to do more than I did… I knew he did a couple of these things.”
Among the bidders for the film studio are entertainment company Lionsgate, as well as Killer Content, the parent company of Killer Films, an indie film studio.
Films that have been cancelled in the wake of the company’s troubles include the highly anticipated film adaptation of the novel Forgive Me Leonard Peacock. Starring Channing Tatum, the plot follows a young male who encounters his own struggles with sexual abuse and its aftermath.
