An American businesswoman made the first bid to buy the Weinstein Company production company. Maria Contreras-Sweet, head of the Small Business Administration at the time of the Obama administration, wants to keep her alive with Harvey Weinstein and her brother, who has been harassed by sexual harassment and violence, says Wall Street Journal (WSJ).
The American newspaper received a letter sent by Contreras-Sweet to the company’s board of directors.
The letter was dated on November 8th and it does not include the purchase price. It does not describe the identity of financial investors, but most of them are growing – said WSJ.
The production company could continue its activities and retain all of its 157 employees. However, the current two Co-Presidents, the Weinstein brothers, should leave.
In his letter, Contreras-Sweet wrote that “a profound impact on the recent disclosure,” and “reorganizing the company would be a inspiration for the industry by women as a business, and would mean a new model for being an enterprising company successful with dignity and respecting his employees “.
He expressed the hope that the majority of women’s board of directors would change the company’s name. He promised to set up a financial base for the victims of the dismissed Co-President, Harvey Weinstein, and mediators would help arrange litigation.
Contreras-Sweet previously founded ProAmerica Bank, focusing on Latin America, currently a board member of Sempera Energy, but has no media and entertainment experience and investment.
WSJ is of the opinion that the acquisition of the Weinstein company was considered by A & E Networks, Lions Gate Entertainment Corp. and Metro-Goldwyn-Mayer Inc. The company has been negotiating with the Colony Capital fund manager, but no agreement has been reached yet. The latter promised a real-estate injection to the production company.
Weinstein Co. dismissed his co-chair, Harvey Weinstein – an Oscar-winning film producer such as The English Patient, Chicago, The Lord of the Rings – The Return of the King, The King’s Speech and The Artist – The Silent Film – sexual harassment and violence have been accused by many.
The Weinstein brothers were founded in Weinstein Co. in 2005.
Colony Capital offered the capital injection after the scandal caused many partners, including Amazon, to interrupt their cooperation with Weinstein Co. The Hatchette Book publishing group also ceased working with the Weinstein Books publisher.