The Weinstein Company | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-01-03

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/The_Weinstein_Company


00:01:33 1 History
00:01:42 1.1 Early years
00:04:20 1.2 Financial restructuring
00:11:38 1.3 Sexual abuse allegations against Harvey Weinstein
00:12:44 1.4 Sale efforts and bankruptcy
00:20:32 1.5 Civil rights investigation
00:24:34 1.6 Closure
00:24:54 2 RADiUS-TWC
00:25:39 3 Weinstein Books
00:26:44 4 International distributors
00:28:11 5 Films



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SUMMARY
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The Weinstein Company LLC (usually credited or abbreviated as TWC) was an American independent film studio, founded in New York City by Bob and Harvey Weinstein in 2005. TWC was one of the largest mini-major film studios in North America prior to its financial troubles and eventual bankruptcy in February 2018. Founder and chief executive Bob Weinstein previously owned a small stake in the company.The company dismissed joint founder and chief executive Harvey Weinstein in October 2017, after over 100 women came forward to accuse him of sexual harassment, assault or rape.On February 26, 2018, The Weinstein Company announced in a statement that it would declare bankruptcy following the collapse of a buyout deal with an investor group led by Maria Contreras-Sweet, the former head of the Small Business Administration under President Barack Obama. However, in a surprising turn, the TWC board and the investor group confirmed on March 1, 2018, that they had reached a deal in which TWC would sell all of its assets for US$500 million. On March 6, 2018, the acquisition deal collapsed again after the studio had an extra debt of US$50 million revealed. The company filed for Chapter 11 bankruptcy on March 19, 2018. On May 1, 2018, Lantern Capital emerged as the winner of the studio's bankruptcy auction. On July 16, 2018, it was announced that The Weinstein Company has shut down and its assets were sold to the newly created Lantern Entertainment.