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An investor group led by Maria Contreras-Sweet and Ron Burkle has agreed to a $500 million takeover of The Weinstein Co. — including $275 million in new investment and $225 million to pay off debts — which will keep the troubled studio out of bankruptcy. The deal also reportedly includes a $90 million victims compensation fund and a 40-day closing period.

Why it matters: Because this bailout seemed dead and buried, only to be revived Thursday in a marathon negotiating session in the offices of NY Attorney General Eric Schneiderman.

Bottom line: Harvey and Bob Weinstein get nothing.

Weinstein Co. bailout deal reached

Deal includes a victim compensation fund.

Harvey Weinstein. Photo by Yann Coatsalious/Getty Images

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An investor group led by Maria Contreras-Sweet and Ron Burkle has agreed to a $500 million takeover of The Weinstein Co. — including $275 million in new investment and $225 million to pay off debts — which will keep the troubled studio out of bankruptcy. The deal also reportedly includes a $90 million victims compensation fund and a 40-day closing period.Why it matters: Because this bailout seemed dead and buried, only to be revived Thursday in a <a class="gtmContentClick" data-vars-link-text="marathon negotiating session" data-vars-click-url="http://link.axios.com/click/12415283.15/aHR0cDovL3ZhcmlldHkuY29tLzIwMTgvYml6L25ld3Mvd2VpbnN0ZWluLWNvLXJvbi1idXJrbGUtbWFyaWEtY29udHJlcmFzLXN3ZWV0LTEyMDI2OTQwNTYvP3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1zZW5kdG9fbmV3c2xldHRlcnRlc3Qmc3RyZWFtPXRvcC1zdG9yaWVz/584972a1ade9c26e668b4588Bf6f695a3" data-vars-content-id="0946797e-2d55-45f1-8303-bf75a53485bd" data-vars-headline="Weinstein Co. bailout deal reached" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="http://link.axios.com/click/12415283.15/aHR0cDovL3ZhcmlldHkuY29tLzIwMTgvYml6L25ld3Mvd2VpbnN0ZWluLWNvLXJvbi1idXJrbGUtbWFyaWEtY29udHJlcmFzLXN3ZWV0LTEyMDI2OTQwNTYvP3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1zZW5kdG9fbmV3c2xldHRlcnRlc3Qmc3RyZWFtPXRvcC1zdG9yaWVz/584972a1ade9c26e668b4588Bf6f695a3" target="_blank">marathon negotiating session</a> in the offices of NY Attorney General Eric Schneiderman.Bottom line: Harvey and Bob Weinstein get nothing.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Weinstein Co. bailout deal reached

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