×
You will be redirected back to your article in seconds

Weinstein Co. Bidders to Meet With New York Attorney General

Ron Burkle and Maria Contreras-Sweet are expected to meet on Wednesday with New York Attorney General Eric Schneiderman, sources told Variety, as they seek a way forward on the purchase of the faltering Weinstein Co.

The meeting is a signal that the bidders are still interested in pulling off a deal if possible. Last week, the $500 million purchase fell apart after Schneiderman’s office filed a discrimination suit alleging that the company abetted Harvey Weinstein’s sexual misconduct. The attorney general’s office sought wide-ranging oversight of the company, causing the bid group to balk.

Schneiderman also attacked aspects of the deal, saying the purchasers’ plan to establish a “victims’ fund” amounted to little more than window-dressing. The attorney general also blasted a plan to promote David Glasser, who was COO under Weinstein, to become CEO. Schneiderman alleged that Glasser was an active enabler of Weinstein’s harassment, and should not be left in charge of the new company.

The meeting, which has been rumored for the past week, should help establish whether the deal can go forward. Burkle — the billionaire who is said to be putting in 20% of the equity — and Contreras-Sweet, the former head of the Small Business Administration, were both rankled by the attorney general’s intervention. Among other demands, the attorney general’s office requested an independent monitor that would oversee the company’s sexual harassment policies and practices.

Schneiderman’s office declined to comment on the meeting.

On Friday night, the Weinstein Co. board announced that it had fired Glasser “for cause.” In the wake of the attorney general’s accusations, it is uncertain whether Glasser will have any role with the new company. The bidders have sought to distance themselves from Glasser without ruling out rehiring him at the new company.

More Biz

  • 'Zootopia' Land Coming to Shanghai Disneyland

    Disney to Open 'Zootopia' Land at Shanghai Theme Park

    The Shanghai Disneyland theme park is to be expanded with the construction of a themed land based on the “Zootopia” animated film and its characters. It will be the first “Zootopia” land at any Disney park worldwide. “The rapid rate of expansion at Shanghai Disney Resort demonstrates our confidence and commitment to the company’s future [...]

  • David Glasser

    David Glasser to Launch $300 Million Shingle With Ron Burkle's Backing (EXCLUSIVE)

    David Glasser, the former chief operating officer of the Weinstein Co., is launching a $300 million film and TV company with the backing of billionaire investor Ron Burkle, Variety has learned. The formation of the production outfit, named 101 Studios, marks a fresh start for Glasser, who was in line to become CEO of the [...]

  • Harvey Weinstein arrives at New York

    Judge Refuses to Pause Weinstein Class Action Case

    A judge on Tuesday denied Harvey Weinstein’s request to put a class action lawsuit on hold pending the outcome of his criminal trial. Ten women have sued Weinstein in federal court in the Southern District of New York, accusing him of violating the federal sex trafficking statute. The suit also alleges that an array of [...]

  • Andrea Ganis Promoted to President of

    Atlantic Records Elevates Andrea Ganis to President of Promotion

    Andrea Ganis has been promoted to the newly created position of president of promotion for Atlantic Records, it was announced today by Atlantic Chairman & COO Julie Greenwald and Chairman & CEO Craig Kallman. In her new role, she will continue to oversee all promotion activities for Atlantic and its subsidiary labels while serving on [...]

  • Roma

    Netflix Joins the Motion Picture Association of America

    UPDATED WASHINGTON — Netflix has joined the Motion Picture Association of America, a move that reflects its evolution as a major player in the movie business. The MPAA currently has six major studios as members, and it collected about $38 million in membership dues in 2017, according to its most recent filing with the IRS. [...]

  • Fate of 'Simpsons' Up in Air

    What Will Happen to 'The Simpsons’ as Disney Takes Over Fox?

    When “The Simpsons” ends its 30th and current season this spring, it will have racked up 663 original episodes — having a season ago passed “Gunsmoke” (635) as the longest-running scripted program in television history. But with the Walt Disney Co.’s acquisition of 21st Century Fox pending, one of TV’s least likely institutions could prove more [...]

  • Best Worst Performances Pink

    Pink, Muse, Chris Stapleton to Headline Citi Sound Vault During Grammy Week

    Pink, Muse and Chris Stapleton will headline Citi Sound Vault, the three-night live-music platform taking place at the Hollywood Palladium during Grammy week. Pink will kick off the Live Nation-produced series on Feb. 7, followed by Muse on Feb. 9 and Stapleton on Grammy night, the 10th. “This will be my first time performing at the [...]

More From Our Brands

Access exclusive content