On Monday, the board of the Weinstein Company (TWC), which has been pushed to the point of closure following the wave of sexual harassment and assault claims against its co-founder Harvey Weinstein, said it would have to file for bankruptcy after a last minute offer proved “illusory”. The transaction includes an $80m compensation fund for victims of Harvey Weinstein, who resigned from the TWC board last year. “We consider this to be a positive outcome under what have been incredibly difficult circumstances.”Under the $500m deal, which will save 150 jobs, the Weinstein Company will be renamed and hire a new board of directors, the majority of which will be women. Q&A The Weinstein Company's box office hits Show Hide The Weinstein Company’s biggest box office hits 1. The company has backed films including The King’s Speech, The Artist, Silver Linings Playbook and Quentin Tarantino’s Django Unchained.

Source: The Guardian March 02, 2018 09:53 UTC