Weinstein Company Avoids Bankruptcy With Deal to Sell Assets

All assets of the Weinstein Company, co-founded by disgraced film producer Harvey Weinstein, will be sold and the firm will avoid filing for bankruptcy protection. The company said late Thursday that it would be sold to billionaire Ron Burkle and former Small Business Administrator Maria Contreras-Sweet. The announcement came just days after the company said it would be forced to file for bankruptcy. “The deal provides a clear path for compensation for victims and protects the jobs of our employees,” the Weinstein Co. board said in a statement. New York Attorney General Eric Schneiderman said the new company “will create a real, well-funded victims-compensation fund, implement HR policies that will protect all employees, and will not unjustly reward bad actors.”