Los Angeles Times

Weinstein Co. is set to file for bankruptcy after sale talks collapse

LOS ANGELES - Weinstein Co., the New York studio co-founded by Harvey Weinstein, will file for bankruptcy protection after last-ditch talks to sell its assets to an investor group collapsed, the company's board of directors said Sunday night.

"While we recognize that this is an extremely unfortunate outcome for our employees, our creditors and any victims, the Board has no choice but to pursue the only viable option to maximize the company's remaining value: an orderly bankruptcy process," the board said in a statement.

The decision came after the board was unable to revive a deal to sell the struggling studio to an investor group led by Maria Contreras-Sweet, who

You're reading a preview, sign up to read more.

More from Los Angeles Times

Los Angeles Times3 min read
Prosecutors Fined In Sexual Abuse Case Against La Luz Del Mundo Leader And Two Followers
LOS ANGELES - A Los Angeles County Superior Court judge held state prosecutors in contempt Thursday for not turning evidence over in the sexual abuse case against the leader of La Luz Del Mundo and two of his followers. Judge Teresa Sullivan fined De
Los Angeles Times4 min read
Ocean Robots Take The Pulse Of Our Planet By Measuring Microbes
It looks like a trashcan bobbing in the waters off the California coast. But it's hardly garbage. In fact, it may play a key role in monitoring the health of our oceans. The vital signs? The health of the seas' smallest residents - phytoplankton. Fro
Los Angeles Times4 min read
Dan Guerrero To Step Down As AD At UCLA
LOS ANGELES - Dan Guerrero, the UCLA athletic director whose 17-year tenure has been accompanied by wild success in almost every measure besides the school's two biggest sports, will retire at the end of June. Guerrero's retirement plans became publi