Weinstein Company Will File For Bankruptcy After Sale Talks Collapse

New York's attorney general filed a civil rights lawsuit against the company two weeks ago, which may have scuttled the deal. Bankruptcy may also hinder plans for a victim compensation fund.

The Weinstein Company says it will file for bankruptcy after a deal for the sale of the company fell apart.

The film and television studio had been in talks with led by Maria Contreras-Sweet, who was in charge of the Small Business Administration under President Obama, and backed by billionaire Ron Burkle. The deal was said to be worth $500 million — "roughly $275 million .

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