Weinstein Co., overwhelmed by backlash, may be up for sale

NEW YORK (AP) — The Weinstein Co., besieged by sexual harassment allegations against its namesake and co-founder, may be putting itself up for sale.

The company today said it will receive an immediate cash infusion from Colony Capital and is in negotiations for the potential sale of all or a significant portion of the company responsible for producing films such as "Django Unchained," ''The Hateful Eight" and "Lion."

Colony Capital, the private-equity arm of Colony NorthStar, was founded by Thomas Barrack, a close adviser to President Donald Trump. Barrack chaired Trump's presidential inaugural committee.

Harvey Weinstein was fired last week by the film production company he helped create. The allegations of sexual harassment and assault against Weinstein span decades and include many of the film industry's leading actresses.

The backlash has been severe as more women go public with their interactions with Weinstein.

Law enforcement in the U.S. and Europe are taking a new look at past allegations.

The Academy of Motion Picture Arts and Sciences has revoked his membership, as has the British Academy of Film and Television Arts.

"This has got to be a fire sale," said Richard Levick, chairman and CEO of crisis-management firm Levick International. He added that while he doesn't think anyone would be interested in buying the Weinstein name, they might be interested in "buying the pieces."

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