The Sale Of The Weinstein Co. May Approach A $500 Million Price Tag
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The Weinstein Co. is about to be sold off following a massive controversy surrounding its co-founder Harvey Weinstein.
Insiders told The Wall Street Journal the price of the embattled Weinstein Co. could be a little under $500 million. That may seem like a lot, but it's actually a little less than the company's previously estimated debt of roughly $520 million.
As a result, much of the company's sale would be the assumption of debt, and current shareholders may lose all of their equity.
SEE MORE: The Weinstein Co. Under Investigation As It Continues To Struggle
The company's owners and board are reportedly considering six potential buyers. That number includes a group led by businesswoman Maria Contreras-Sweet, as well as a production company working with philanthropist Abigail Disney — a member of the Disney family.
The group led by Contreras-Sweet said it would keep the studio intact, but other bidders may only be interested in the Weinstein Co.'s television production company and library of independent films.
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