DEAD DEAL

Weinstein Company Sale Called Off Again

The investor group cited “disappointing information” about the deal’s viability.

In a statement released Tuesday, Maria Contreras-Sweet called off a deal to buy the Weinstein Company, citing “disappointing information about the viability of completing this transaction.” Contreras-Sweet, who heads an investor group that has been in dealings to buy Weinstein Co. in the wake of the Harvey Weinstein scandal, said that they are still interested in creating a “women-led film studio.” “To that end, we will consider acquiring assets that may become available in the event of bankruptcy proceedings, as well as other opportunities that may become available in the entertainment industry,” she said in the statement. The investor group was reportedly shocked about the company’s decision to file for bankruptcy in late February, but still went ahead with the purchase. On March 1, New York Attorney General Eric Schneiderman released a statement confirming the agreement, and the investor group reportedly bought the group for $500 million, including an “$80-million compensation fund for victims of Weinstein’s harassment and abuse.”