The company’s attorneys also gave an update on the sale to Lantern Capital, which Walrath approved last month. The closing has dragged on longer than expected, as attorneys sort out how the proceeds will be allocated among creditors, which contracts Lantern will assume, and other issues. Attorney Paul Zumbro promised that the closing would occur before the end of June.
Harvey’s Contract

Judge Orders Release of Harvey Weinstein’s Employment Contract

]May 12    court approves buyer Lantern   ]

The Weinstein Co. Sale To Lantern Capital Approved By Bankruptcy Judge

[May 6]

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“The Weinstein Company is pleased to announce that Lantern Capital is the winning bidder in the sale for substantially all of the assets of the Company.” for $310 million.    the Debtors concluded  that the later Inclusion letter was not a bona fide offer.

That’s nearly 40% less than was being offered for the company a few months ago, and just a fraction of how much the company was worth before the sexual misconduct scandal that toppled its founder Harvey Weinstein last year.   The Court must approve.

DIRK ZIFF, TIM SARNOFF, MARC LASRY,
TARAK BEN AMMAR, LANCE MAEROV, SUMMONS
RICHARD KOENIGSBERG, PAUL TUDOR JONES,
JAMES L. DOLAN, JEFF SACKMAN,

included in sexual complaint, above.

[ April 20  April 30 auction deadline ]

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60 potential buyers have emerged for the Weinstein Co.’s film and television assets, 48 of whom already have inspected the company’s books in a data room ahead of the court’s April 30 auction deadline.

stalking horse wants preference

[more April 6 The Weinstein Company’s lawyers reiterated today the need for the breakup fee and reimbursement, saying Lantern Capital wouldn’t proceed without them.]

Lantern’s agreement, reached before The Weinstein Co. filed for protection from creditors in bankruptcy court, calls for a $9.3 million break-up fee and reimbursement of up to $6.2 million in expenses. The studio urges the court to approve these fees — saying they were necessary to entice Lantern to enter a so-called “Stalking Horse” agreement that effectively sets a minimum price for subsequent bidding on the Weinstein Co.’s assets. “Permitting the Stalking Horse to prime other administrative expense claimants has no basis in the bankruptcy code,” Trustee Andrew R. Vara has objected.

[March 20:  TWC business to be a preeminent content provider, they say ]

harvey-weinstein-releaseing-less-indiependent-movies

Lantern Capital Partners “promise to reposition the business as a preeminent content provider, while cultivating a positive presence in the industry.” The Weinstein Company said it struck a deal with an affiliate of private equity firm Lantern Capital Partners to acquire its assets and filed for bankruptcy in the Delaware court, listing $500 million to $1 billion in liabilities and $500 million to $1 billion in assets.

 

[ March 15 Glasser: wrongful termination, retaliation, breach of contract and defamation ]

David Glasser has hired Sauer & Wagner to sue TWC and its remaining board members — Bob Weinstein, Lance Maerov and Tarak Ben Ammar for wrongful termination, retaliation, breach of contract and defamation.

 

[September 27 2011 TWC: Bruno is back ]
The Weinstein Company announced September 26 that Stephen Bruno, after a stint at HBO, will return as the head of marketing.

Bruno, former assistant to Harvey Weinstein, had departed TWC for HBO less than a year ago.

He’ll report to his old boss, Harvey Weinstein, as well as company COO David Glasser.

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“We have received disappointing information about the viability of completing this transaction,” Contreras-Sweet said in a statement Tuesday, March 6. “As a result, we have decided to terminate this transaction.”

 

 

The Weinstein Co. announced Sunday February 25 that it will declare bankruptcy after a $500 million deal with Ron Burkle’s Yucaipa Companies etc. to sell the company collapsed.

[ February 17  David Glasser fired by TWC ]

 

“The board of The Weinstein Company has unanimously voted to terminate David Glasser for cause,” a TWC statement said.

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David Glasser

 

The New York AG’s office in recent days has been in “intense conversations” with Ron Burkle’s Yucaipa Companies, which is backing the purchase.

“Burkle tried to be in the background, with Contreras-Sweet the front person, even though she has no Hollywood experience.   But in reality, they are setting it up so one of Harvey’s enablers, one of the people who failed to hold Harvey accountable, would be the CEO of the new company, He is the exact wrong person to be taking control of this company.

[November 8 2010 Weinstein Co. is hiring Bladimiar A. Norman ]

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Michelle Williams & Harvey Weinstein

The Weinstein Co. is hiring Bladimiar A. Norman as vice president marketing for TWC and Dimension pictures, reporting to David Glasser and the brothers.