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A class-action lawsuit on behalf of dozens of women accusing co-founder Harvey Weinstein of sexual assault, battery and lewd conduct has been filed in federal court in Los Angeles. The suit also names Miramax, the independent film studio Weinstein and his brother Bob founded and operated before selling it Disney in 1993. More suits are almost certainly in the works.   Warner Bros. has acquired North American distribution rights to Paddington 2, the company announced November 15 from The Weinstein Company.

[November 13 Goldman Sachs stake to zero in the Weinstein Company]

Goldman Sachs has written down to zero the value of its stake in the Weinstein Company, the movie studio whose co-chairman Harvey Weinstein stepped down last month following sexual assault allegations, a person familiar with the matter said on November 13.

November 11 Harvey Weinstein employs firm of fixers and flacks ]

Weinstein Co. has been sued for defaulting on a $45 Million Loan. AI International Holdings, an affiliate of billionaire Len Blavatnik’s industrial group Access Industries,  had loaned Weinstein and the company $45 million on September 29, 2016.“Weinstein’s termination and the facts and circumstances leading to and surrounding that dismissal” says the November 10 filing, “constitute a Material Adverse Change as defined in the Note.”

https://theblast.com/harvey-weinstein-sued-defaulted-loan/

 

 

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The crisis-management firm Sitrick and Company, was hired by Weinstein on October 8, four days after the scandal broke. Sitrick and Company was founded in 1989, and employs fixers and flacks in five cities across the country. Their past and present client list includes Rush Limbaugh, Chris Brown, Johnny Depp, R. Kelly, Kobe Bryant, Michael Vick, Joe Francis, Hulk Hogan, the whole of Mötley Crüe. They’ve steered loathed corporations like Exxon, Wells Fargo, and Papa John’s, American Apparel, and the Roman Catholic Archdiocese of Los Angeles after their respective accusations of sexual abuse, and the insurance corporation AIG. Founder Michael Sitrick himself gave up on journalism in pursuit of a better paycheck; he told the Financial Times in a 2010 profile, “I love journalism but I’d rather eat.”

[November 9 Harvey Weinstein in Paradise Papers ]

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Harvey Weinstein shows up in the Paradise Papers [leak of offshore corporations] in the now-defunct Bermuda-based medical venture capital firm Scientia Health Group Ltd. Weinstein took out 2,000 shares in the company in November 2001.

He gave as his contact point the name of Richard Koenigsberg, one of the directors of the Weinstein Company.

The Fortress Investment Group is in ongoing talks to grant a bridge loan of $35 million that will enable The Weinstein Company to meet payroll and its commitments on television projects through January.
That may enable the company to complete an asset sale or restructure. Colony Capital was offering to buy TWC assets at a price well below that which the remaining board members think they are worth. Lionsgate, MGM, and Killer Films — potential bidders— would prefer that the company undergo bankruptcy, because that would indemnify them from legal obligations related to Harvey Weinstein’s alleged harassment and assaults.

 

[October 27 Harvey Weinstein redux: fighting over TWC bones – Masayoshi Son in? ]

The Weinstein Co film company on October 26 was sued by its founder and former co-chairman Harvey Weinstein who is seeking to investigate whether the board is pursuing a “fire sale” of the company, the Delaware Court of Chancery has jurisdiction over suits involving the Delaware-incorporated company.

Colony Capital—run by Donald Trump’s close friend Tom Barrack—is witholding the cash infusion. The equity firm Fortress Investment Group, could offer a financial package valued at $35 million. It would be enough of a bump to help the company operate through January.    Japanese conglomerate SoftBank and its founder, Masayoshi Son, is buying Fortress Investment Group, the deal is currently expected to close in the second half of this year, but remains subject to “certain regulatory approvals and other customary closing conditions.”

The company secured a $400 million senior credit facility last year from Union Bank and Opus Bank, which are likely growing concerned about their investment. So is Goldman Sachs Group (NYSE: GS), which is reportedly looking to sell its $1 million stake.

 

 

[ October 21 Blavatnik in? ]

On October 19, the Financial Times reported that Harvey Weinstein is working with

3e11b4bdc381e3f5da4d17544d073147-lauren-celebritiesbillionaire Len Blavatnik [Sir Leonard “Len” Blavatnik is a Soviet-born British-American ] and investor Ron Burkle on a purchase plan. The company’s remaining assets are now in perilous condition. TWC’s financial situation, and particularly its debt load, are more dire than was previously known.

Harvey Weinstein resigned from the board of The Weinstein Company, the board announced on October 17. Toyota Motor Corp’s Lexus unit, a sponsor of reality TV show “Project Runway,” said it is evaluating its partnership with TWC.

 

 

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Thomas J. Barrack, Jr., founder and executive chairman of Colony Capital,, “We are pleased to invest in The Weinstein Company and to help it move forward.”   The head of Amazon Studios, Roy Price, has resigned from the streaming company he started following claims he had dismissed the allegations that Harvey Weinstein had raped the actor Rose McGowan.

 

 

 

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DEADLINE: …There is a feeling around town right now that Harvey feels he was rolled under the bus by his brother in those press reports, and he’s eager to return the favor. Is that what we’re talking about here?

GLASSER: I can’t say specifically…
The scenario sounds almost like a brother trying to burn his brother’s baseball card collection and realizing he might have burned down the whole house. The feeling is a feud between the brothers was exacerbated by the passing of their mother [November 16 2016], and this is going to be a scorched earth feud that continues. Maybe your experience today is shrapnel from that?

GLASSER: Look, I can’t say exactly what happened or didn’t.

Glasser was never charged with a crime. Glasser investor Roy Ageloff, pleaded guilty to securities fraud and was sentenced to eight years in prison. His partner, Robert Catoggio, it was charged, funneled millions of dollars in proceeds to a captain in the Genovese crime family.

Goldman Sachs took a 5 percent stake in TWC during the private-equity placement that got the brothers going again after they left Disney, which in 1993 bought their original studio, Miramax.

Hollywood in Tribeca: For years Hue and Cri found TWC good copy.   Here, assembled, are some items:

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Michelle Williams

Michelle Williams

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