New York Women's Foundation Joins Female-Led Investor Groups Targeting Weinstein Co. Acquisition
As the Weinstein Company struggles under the weight of scandal and debt, two competing female-led investor groups are hoping to acquire the studio in an effort to turn its assets into a source of funding for victims of sexual abuse and harassment.
Killer Content, the parent company of the long-established indie Killer Films, and its social outreach wing Killer Impact, have pulled together a group of investors, including Abigail Disney and the New York Women’s Foundation, who are prepared to field a bid for some of Weinstein Co.’s film and TV assets. Maria Contreras-Sweet, former head of the Small Business Administration during the Obama years, is assembling a similar offer, according to individuals with knowledge of the talks.
Weinstein Co. is expected to send out briefing books with details on the company’s financial state to prospective bidders early next week. The company is under pressure to find a buyer as it battles a lawsuit from investor Len Blavatnik’s Access Industries over a $45 million loan that is in default. Weinstein Co. faces the prospect of some or all of its assets being frozen following a scheduled Dec. 13 court hearing on the Access Industries suit. Given the dire state of the company, with more than $500 million in debt and creative and business partners fleeing, a bankruptcy filing may well be the only recourse for the company if a quick sale cannot be arranged..