The Associated Press reported Monday that the Weinstein Co., which was co-founded by disgraced movie mogul Harvey Weinstein, has filed for bankruptcy protection. The once a prosperous company is still reeling as it tries to survive the fallout from the many sexual misconduct accusations leveled against Weinstein.
The report says the company has filed with a buyout offer in hand, the offer coming from a private equity firm.
The AP reports: The Weinstein Co. says it has entered into a sale agreement with Lantern Capital Partners, subject to approval by the U.S. Bankruptcy Court in Delaware.
The AP also reports that the company announced on Monday that it is releasing victims of, or witnesses to, Weinstein’s alleged misconduct from any non-disclosure agreements.
In a statement, the company says it “expressly releases any confidentiality provision” to the extent that it has prevented anyone who “suffered or witnessed” any form of misconduct by Weinstein from telling their stories.