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>> The Weinstein Company, whose board of directors recently fired co-founder Harvey Weinstein amid a wave of sexual abuse allegations, may soon sell most of the company to Tom Barrack, the Chairman of investing powerhouse Colony Capital. And while Barrack is not known for producing Oscar winning movies, he his known for staging one very notable event.
Donald Trump's presidential inauguration. A long time friend of Trump's and chairman of his inaugural committee back in 2016, Barrick, through Colony, will provide an immediate cash infusion to stabilize the Weinstein Company's operations and is in talks to buy the bulk of its assets. It isn't the first time Barrick and the Weinstein brothers, which include Harvey's brother Bob, a Weinstein board member who voted for Harvey's dismissal, have found themselves intertwined.
Harvey and Bob's prior film company, Miramax was sold by, then, parent company, Disney, in 2010 to a group that included Barrack's Colony Capital. Colony and its partners then unloaded Miramax to another buyer last year. The cash infusion and potential sale come after more of the Weinstein Company's partners have cut ties with the company.
Last week, Goldman Sachs said it's exploring options for its stake in the company, valued at less than $1 million. And Hachette Book Group terminated the Weinstein imprint. As for Trump, he and Weinstein are no strangers. The President, who has faced his own sexual harassment claims from women, said this shortly after the allegations against the movie mogul surfaced.
>> I've known Harvey Weinstein for a long time, I'm not at all surprised to see it.