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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.

Go deeper

8 mins ago - Health

Beware a Thanksgiving mirage

Illustration: Sarah Grillo/Axios

Don't be surprised if COVID metrics plunge over the next few days, only to spike next week.

Why it matters: The COVID Tracking Project warns of a "double-weekend pattern" on Thanksgiving — where the usual weekend backlog of data is tacked on to a holiday.

Trump pardons Michael Flynn

President Trump with Michael Flynn in 2016. Photo: David Hume Kennerly/Getty Images

President Trump on Wednesday pardoned his former national security adviser Michael Flynn, who pleaded guilty in the Mueller investigation to lying to FBI agents about his conversations with a former Russian ambassador.

Why it matters: It is the first of multiple pardons expected in the coming weeks, as Axios scooped Tuesday night.