Weinstein Co. completes $289-million sale to private equity company [Los Angeles Times (CA)]
WPP plc American Depositary Shares (WPP)
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Source: Los Angeles Times
Weinstein Co. completes $289-million sale to private equity company Goodbye, Weinstein Co. Hello, Lantern Entertainment. On Monday, the beleaguered studio wrecked by sexual assault allegations against its co-founder Harvey Weinstein completed the sale of its assets to Lantern Capital Partners, closing the book on the onetime indie film powerhouse. Lantern paid $289 million for the assets, including Weinstein Co.’s 277-film library. The Dallas-based private equity firm previously agreed to pay $310 million, but managed to secure a discount after agreeing to make payments on the studio’s contracts with filmmakers and actors. A bankruptcy judge approved the revised deal Wednesday, over the objections of Hollywood heavyweights such as Quentin Tarantino and Bradley Cooper, who worried that the deal terms might keep them from being paid royalties owed for films such as “The Hateful Eight” and “Silver Linings Playbook.” The new owners, who have no entertainment business experience, must now
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WPP
Sec Filings
- 5/9/24 - Form 6-K
- 5/8/24 - Form 6-K
- 5/2/24 - Form 6-K
- WPP's page on the SEC website