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weinstein co.'s future uncertain as colony capital deal falters

weinstein co.'s future uncertain as colony capital deal falters News Article With The full text news. The Resource Link is down the post and you can View this News Article in the source page.



weinstein co.'s future uncertain as colony capital deal falters

the future of weinstein co. has become bleaker now that the mini-studio has lost a key financial lifeline from a los angeles real estate billionaire.the decision by thomas barrack’s private equity firm colony capital to not supply the harvey weinstein-founded company with a much-needed capital infusion could hasten the company’s financial slide.colony may still buy all or part of weinstein co. but the loss of an immediate financial boost pushes the new york-based film and television company closer to bankruptcy reorganization, or a fire sale of assets, banking experts said.“the future is muddled to bleak,” said hal vogel, a veteran media investor. “essentially the problem is, you cannot produce new features without money.”a further complication emerged thursday when harvey weinstein sued his own company to obtain his email and personnel file, which he says will help defend himself against allegations of sexual abuse that led to his firing oct. 8. the lawsuit could further delay a sale and slow the process of unwinding weinstein’s 23% ownership in the company.colony was given a brief exclusive window to decide whether to buy all or some of weinstein co.’s assets. after that period expires next week, negotiations will be open to other bidders, under the terms of the deal.few, if any, investors want to do a deal that will help weinstein financially — not even barrack, who is negotiating to buy the firm.“no one is interested in salvaging a company which would ...