Last week, The Weinstein Company assured investors it was NOT shutting down after being hit by the explosive sexual assault scandal of co-founder Harvey Weinstein.
Well, it looks like it might be curtains for the company after all!
On Monday, it was announced that not only will Colony Capital invest in TWC, but TWC is also negotiating with Colony about the possible sale of “all or a significant portion” of its assets.
In a statement, TWC board member Tarak Ben Ammar said the film production house believes Colony’s “sponsorship” will “help stabilize the Company’s current operations.”
Interestingly enough, the private equity real estate trust is headed by billionaire Tom Barrack, who is also known for being one of Donald Trump‘s closest friends.
Barrack, who headed Trump’s inaugural committee, said the film studio has “substantial value and growth potential,” adding:
“We will return the Company to its rightful and iconic position in the independent film and television industry.”
Will the company finally fall in the right hands?
[Image via WENN.]