The Weinstein Co. is exploring a sale of all or a significant portion of its assets to Colony Capital Inc. following the termination of Harvey Weinstein amid allegations of sexual misconduct.
Colony Capital also has struck a deal to invest in The Weinstein Co. immediately, the company said Oct. 16, to help stabilize its operations and reassure distribution, production and talent partners. Recently, Amazon.com Inc.'s Amazon Studios backed out of an untitled project that it was developing with The Weinstein Co., and Apple Inc. also nixed plans for an Elvis Presley biopic series produced by The Weinstein Co.
The investment comes as a report suggested that The Weinstein Co. was considering a sale or closure of the company in the wake of the scandal.
Colony Capital is the global private equity division of Colony NorthStar Inc.