Contreras-Sweet first made a bid for the Weinstein Co.in November, with an investor group backed by billionaire investor Ron Burkle.
The group, led by Maria Contreras-Sweet, agreed to purchase more than 90 percent of the embattled film studio's assets, including its television business and catalog of films, according toThe Wall Street Journal.
The sale of Weinstein Co. comes after months of dealing with the backlash from allegations of sexual misconduct and rape by Harvey Weinstein, who was sacked from the company in 2017. The bankruptcy filing would have halted the lawsuits filed by the women who accused the producer of sexual harassment, assault and other misconduct.
Our team is pleased to announce that we have taken an important step and have reached an agreement to purchase assets from The Weinstein Company in order to launch a new company, with a new board, and a new vision that embodies the principles that we have stood by since we began this process last fall.
Additionally, she said the agreement will "save about 150 jobs, protect the small businesses who are owed money and create a victims' compensation fund that would supplement existing insurance coverage for those who have been harmed".
The $500m being handed over includes an $80m compensation fund, and grants the investor group ownership of all the company's assets, including its 277 films.
"We consider this to be a positive outcome under what have been incredibly hard circumstances", the Weinstein Co. said Thursday.
A new name for the potential company has not been selected, reports Variety, though at one point the investors were said to be leaning toward "Wonder Hill".
She said the new company would have a new board, represent "the best practices in corporate governance and transparency" and amounted to "the best possible pathway to support victims and protect employees".
And two weeks ago, New York Attorney General Eric Schneiderman filed a civil rights lawsuit against the Weinstein Co., stating that the studio "repeatedly broke New York law by failing to protect its employees from pervasive sexual harassment, intimidation, and discrimination".
On Sunday, the company complained that Contreras-Sweet's group had neither kept its side of the bargain on Schneiderman's principles nor paid interim funding required to run the business and maintain employees before the buyout was finalised.
Contreras-Sweet said her involvement was inspired to hire a majority-female board of directors by the #MeToo movement, which emerged in the wake of the Weinstein allegations.
Mr Weinstein is facing dozens of allegations of sexual abuse, including rape, but he denies non-consensual sex.
A CVA allows a company to reduce some of its debts with permission of creditors with the aim of keeping the business running. The celebrity chef Jamie Oliver's chain, Jamie's Italian , also entered into a CVA this month.
She also strongly intimated that they'd be performing at the event.but apparently, she doesn't know what she's talking about. She added that she'd met with an array of different organisations and wants to use her new role to really make a difference.
Notably, the by-election was held on February 24 in which around 82 per cent of the voters had exercised their franchise. Odisha Chief Minister Naveen Patnaik said the outcome of the polls would have an impact on the 2019 Assembly elections.
The discussion also touched upon the EU-Bangladesh relations, including the political situation in Bangladesh. Bangladesh has been negotiating a repatriation deal for the thousands of Rohingya refugees it is housing.
Richard Blumenthal, D-Conn., said the change in Kushner's access to sensitive information should have occurred months ago. Tuesday's news set off rampant speculation among Trump allies that Kushner's days in the White House might be numbered.
Aiden English and Rusev were in the ring, and English sang a song about Shinsuke Nakamura before English's match with Nakamura. The last time they fought in a singles match was in 2011 on Raw , when Cena defeated Mysterio for the WWE championship.
Regardless of what you may think of Kim Kardashian and Kanye West, you have to agree that they make some good looking babies. Kim seemed pretty confident that she was going to win on Saturday but the KarJenners were just as determined.
Simpson and the case that gripped America, I highly recommend you watch HBO's Oscar winning documentary, 'O.J.: Made in America'. Simpson where he shares how he theoretically killed his wife and friend will finally be screened 12 years after it was pulled.
Morkel has dismissed the former Australian batsman eight times, with no other bowler having more success against the Australian. The match officials cited concerns over the players' safety after numerous batsmen were struck on the body during the Test.
A spokeswoman for the fire service said: "The thoughts of NIFRS are with the family, friends and local community at this time". The Northern Ireland Fire & Rescue Service (NIFRS) said its officers took an emergency call about the fire at 7.14am.
The proposal is structured so that Comcast will be successful as long as it brings more than 50% of Sky shareholders to its side. Either Twenty-First Century Fox will have to pay more for Sky , or Disney will lose a valuable global property to Comcast .
The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. According to the report , one of the major drivers for this market is Increased dependency on internet.
Often called "counselor to the presidents", Billy Graham was also a simple man with a family left to mourn his death. Trump's inauguration, saying, that, "In the Bible, rain is the sign of God's blessing, and it started to rain, Mr.
We don't know what Allen will run but if he ends up in the upper 4.5s, that is going to push him down in a talented draft group. If that rule changes, theres going to be a lot of defensive backs grabbing and pulling guys, so that wont change..
One day later, the longtime Trump aide has announced she is leaving the White House, reportedly in the next few weeks. Asked about the email on Tuesday, she told the committee she did not view it as significant, the sources said.
Amazon's acquisition of Ring marks another step forward for the tech giant to transition itself into an individual company. Cloud Cam ties in with Amazon Key, a program that gives delivery personnel the ability to deliver boxes inside your home.
All Albertans are encouraged to participate by sharing pink shirt photos on social media with the hashtag #PinkShirtDay. RCMP also wants to remind parents to speak to their children about bullying to ensure they aren't silent victims.
The company is expected to launch its next flagship model at the end of March, making its appearance at MWC a slightly muted one. It bears an accelerometer, ambient light sensor, barometer, digital compass, fingerprint sensor, gyroscope, and proximity sensor.
Elsewhere, we saw a welcome return to testing for Robert Kubica , who was on testing duty for Williams in the afternoon. I don't know about performance, but with the general operation everything is really smooth.
In 2016, Gordon was found liable in a wrongful death suit over Bobbi Kristina's death after he failed to appear in court. Bobby Brown expressed frustration that Gordon is "still walking around free", he told Rolling Stone .
With this, the release date of the megastar's another upcoming film 2.0 co-starring Akshay Kumar has been further pushed back. Jayendra Saraswathi Shankaracharya, the 69th pontiff of the Kanchi Mutt, had died of cardiac arrest on Wednesday, February 28.