Weinstein Co. in talks for sale of assets with Colony NorthStar's private equity arm [MarketWatch]
COLONY NORTHSTAR INC (CLNS)
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Source: MarketWatch
Weinstein Co. in talks for sale of assets with Colony NorthStar's private equity arm The Weinstein Co. said Monday it has reached a deal for an "immediate capital infusion" from Colony NorthStar Inc.'s CLNS, +0.72% private equity arm Colony Capital. The media production and distribution company, which was founded by now-disgraced film mogul Harvey Weinstein and his brother Bob in 2005, said it has entered into talks with Colony for the potential sale of all, or a significant portion, of its assets. "We believe that Colony's investment and sponsorship will help stabilize the Company's current operations, as well as provide comfort to our critical distribution, production and talent partners around the world," said Weinstein Co. board member Tarak Ben Ammar. Weinstein was kicked out of the Academy of Motion Picture Arts and Sciences over the weekend, after multiple reports of allegations of sexual harassment and rape. Colony NorthStar's stock edged up 0.5% in morning trade. It has tu
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