Harvey Weinstein Company Purchase Canceled

2024 Author: Steven Freeman | [email protected]. Last modified: 2023-12-17 08:15

The surprise acquisition of the Harvey Weinstein production company by a Mexican woman and her associates has fallen apart.

María Contreras-Sweet - a Mexican businesswoman born in Guadalajara and residing in California - had announced this Thursday the purchase of The Weinstein Company, founded by the 65-year-old producer and his brother. Stained by a huge scandal over her sexual behavior that erupted in the fall, Weinstein and her partners were forced to put the company up for sale and settle its debts, which are estimated to amount to a few lace in announcing that we have taken a step important and we have reached an agreement to buy the assets of The Weinstein Company, in order to launch a new company”, had been said in an official statement.

However, on Tuesday afternoon Contreras-Sweet, Ron Burkle and Lantern Capital, broke the pact due to the lack of "viability" of the project, according to sources.

"We have all worked sincerely to achieve the transaction for The Weinstein Company assets, however, after signing and entering the due diligence phase to verify the purchase, we have received disappointing information on the feasibility of completing it," he said. of a statement. "As a result of that we have decided to end the transaction."

The reason for the collapse was due to the fact that it was discovered that the company has a debt of $ 64 million for different concepts, which include debts with suppliers and other pending litigation, according to a source told the New York Post, Harvey Weinstein has been accused of sexual misconduct by more than 60 women and actresses, including Cara Delevigne, Adhley Judd, Gwyneth Paltrow, Rose McGowan, and Salma Hayek.

As announced, Contreras-Sweet would form a board of directors of women who would take charge of the company.