Weinstein Co., reeling after firing its co-founder Harvey Weinstein amid sexual assault and harassment allegations, is in talks with Colony Capital over a potential sale of the company’s assets.
Colony Capital, founded by Tom Barrack, has provided an immediate infusion of cash into the film studio, according to a statement Monday. No other details of the talks were announced.
“We believe that Colony’s investment and sponsorship will help stabilize the company’s current operations,” Weinstein board member Tarak Ben Ammar said in the statement.
“We will help return the company to its rightful iconic position in the independent film and television industry,” said Barrack.