Serial Backer Of Alleged Sexual Predators Bails Out Weinstein Co.

Tom Barrack is always there to lend a hand, with a check in it.
 By David Shankbone (Own work) [CC BY 3.0], via Wikimedia Commons

By David Shankbone (Own work) [CC BY 3.0], via Wikimedia Commons

Perhaps you’ve heard, but The Weinstein Company is in a bit of trouble. Sure, there’s the widely-reported and ever-expanding Harvey Weinstein-related trouble, but that’s only the beginning, since now he’s been fired from the company that bears his name. The real trouble is, the Harvey Weinstein-related issues have now become business issues. To be more specific, Goldman-Sachs-wants-nothing-to-do-with-us-because-nobody-thinks-we-can-make-money-without-an-alleged-serial-rapist-running-the-show level business problems.

Luckily for Weinstein, there is a man brave enough to step in to such situations. A man not afraid to help out another guy dogged by allegations of sexual impropriety, Michael Jackson. A man who praises (and pays for) another person hounded by allegations of sexual assault, the President of the United States, as a revolutionary and warrior innovating by “managing by conflict.” A man secure enough in himself to praise the Twilight novels. And now a man who is saving The Weinstein Company from imminent collapse.

In a short statement, the Weinstein Company said that it had a preliminary agreement from Colony for an immediate cash infusion, though the amount was not disclosed.

The two sides will begin negotiations over selling some or all of the studio’s assets to Colony, which is led by Thomas J. Barrack Jr., a financier who is one of President Trump’s closest advisers.

Weinstein Company Agrees to a Rescue Investment From Colony Capital [NYT]