Weinstein Co files for bankruptcy, ends all non-disclosure agreements

NEW YORK: US film and TV studio The Weinstein Company, whose ex-Chairman Harvey Weinstein has been accused of harassment and assault, said on Monday it filed for bankruptcy and was ending all non-disclosure agreements that may have silenced some women.
The Weinstein Company filed for bankruptcy in the Delaware court, listing $500 million to $1 billion in liabilities and $500 million to $1 billion in assets, and said it struck a deal with an affiliate of private equity firm Lantern Capital Partners to acquire its assets.
The bankruptcy comes after the studio spent months looking for a buyer or investor.
The company inked a deal with an investor group led by former Obama administration official Maria Contreras-Sweet, but the group terminated its offer earlier this month after seeing that the company had more liabilities than previously disclosed.
The Weinstein Company said in a statement it entered into a “stalking horse” agreement with a Lantern Capital affiliate, that would purchase substantially all of the assets of the company.
The offer from Lantern will set the floor for higher and better bidders in a court-supervised auction. — Reuters