Colony Capital will not be providing an emergency cash infusion to the Weinstein Company, as billionaire Tom Barrack’s private equity firm has decided to back away from a preliminary agreement to invest in and potentially acquire the company, the New York Times reported Wednesday.Last Monday, Colony announced that it had agreed to fund an “immediate capital infusion” into the company, which was fighting for survival after dozens of accusers alleged sexual harassment and assault against TWC co-founder and CEO Harvey Weinstein. As part of that agreement, Colony was given an exclusive negotiating period to place a bid for all or part of the company or its assets.
NYS Entity Status
NYS Filing Date
SEPTEMBER 25, 2014
NYS DOS ID#
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2014 - INFUSION FOR ALL CORP.
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By Wrap Staff, provided by
- Monday Oct 16, 2017
The Weinstein Company has entered a “preliminary agreement” with Colony Capital that will “provide an immediate capital infusion into the Company,” TWC announced Monday.Additionally, TWC is negotiating a potential sale of all or a portion of the company’s assets to Thomas Barrack Jr.’s firm.The amount of the capital investment and terms of any potential sale of assets were not disclosed.Also Read: Gawker-Killer Lawyer Leaves Harvey Weinstein's Legal Team Without Suing NY TimesThe 12-year-old NYC-based indie film and TV studio has been under siege since the firing last week of co-founder Harvey Weinstein in the wake of disclosures of multiple allegations of sexual misconduct.