Mar 6, 2018

Weinstein Co. purchase falls through over concerns of "viability"

Harvey Weinstein.

Harvey Weinstein. Photo: Drew Angerer / Getty Images

The group planning to purchase Weinstein Co. is backing out of the sale, Bloomberg reports, after "an examination raised questions about the viability" of the studio.

Why it matters: The $500 million deal that was reached just four days ago included $250 million to pay off debts and $275 million in investments. Maria Contreras-Sweet, who leads the group which included billionaires Ron Burkle and Len Blavatnik, said "she would consider acquiring Weinstein assets if they become available in bankruptcy," Bloomberg reports.

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