New venture now controls hallowed Weinteins content library.
Lantern Entertainment confirmed on Monday (July 16) it has completed the $289m acquisition of “certain assets” of The Weinstein Company (TWC).
The company, owned by Dallas private equity firm Lantern Capital, got the go-ahead last week from a Delaware bankruptcy court and inherits the hallowed Weinsteins content library as it seeks to build out its entertainment venture and distance itself from Harvey Weinstein.
The disgraced former Hollywood mogul faces up to life imprisonment if found guilty of one of several charges stemming from numerous allegations of sexual assault, rape, and sexual harassment. Weinstein denies any non-consensual sex.
Lantern Entertainment confirmed on Monday (July 16) it has completed the $289m acquisition of “certain assets” of The Weinstein Company (TWC).
The company, owned by Dallas private equity firm Lantern Capital, got the go-ahead last week from a Delaware bankruptcy court and inherits the hallowed Weinsteins content library as it seeks to build out its entertainment venture and distance itself from Harvey Weinstein.
The disgraced former Hollywood mogul faces up to life imprisonment if found guilty of one of several charges stemming from numerous allegations of sexual assault, rape, and sexual harassment. Weinstein denies any non-consensual sex.
- 7/16/2018
- by Jeremy Kay
- ScreenDaily
Four members of the Weinstein Co. board will step down on Friday, once the bankruptcy sale to Lantern Capital is completed.
The board, led by chairman Bob Weinstein, issued a statement on Thursday saying that its work is largely complete, and that it will leave the remaining job of winding down the company’s estate to bankruptcy professionals. The departing board members, in addition to Bob Weinstein, are Lance Maerov, Tarak Ben Ammar, and Frank Rainone. Ivona Smith, a bankruptcy consultant who was brought on to assist with the bankruptcy sale, will be the sole remaining member.
“In the face of intense public scrutiny, this Board steered the Company to an orderly sale and maximized value for the Company and its creditors,” Smith said in a statement. “The Company thanks the outgoing Board members for their hard work and contributions. Following the closing of the sale to Lantern, the Company...
The board, led by chairman Bob Weinstein, issued a statement on Thursday saying that its work is largely complete, and that it will leave the remaining job of winding down the company’s estate to bankruptcy professionals. The departing board members, in addition to Bob Weinstein, are Lance Maerov, Tarak Ben Ammar, and Frank Rainone. Ivona Smith, a bankruptcy consultant who was brought on to assist with the bankruptcy sale, will be the sole remaining member.
“In the face of intense public scrutiny, this Board steered the Company to an orderly sale and maximized value for the Company and its creditors,” Smith said in a statement. “The Company thanks the outgoing Board members for their hard work and contributions. Following the closing of the sale to Lantern, the Company...
- 7/12/2018
- by Gene Maddaus
- Variety Film + TV
The Weinstein Co., which is two weeks away from a bankruptcy auction, appointed a new board member on Friday who will weigh in on the sale.
Ivona Smith is a consultant at Drivetrain Advisors, a firm that provides independent board service for companies in bankruptcy. According to a statement on Friday night from the Weinstein Co., Smith was added at the urging of the committee of unsecured creditors. The five-member committee includes an actress and former Weinstein Co. employee who have filed suits accusing Harvey Weinstein of sexual misconduct.
The committee is seeking to maximize the value of the Weinstein Co. estate, providing the largest possible return for creditors. In addition to Weinstein’s victims, the unsecured creditors include numerous law firms, studios, and vendors.
“We are delighted to welcome Ms. Smith to our Board,” Bob Weinstein, the company chairman, said in a statement. “Ms. Smith brings not only substantial...
Ivona Smith is a consultant at Drivetrain Advisors, a firm that provides independent board service for companies in bankruptcy. According to a statement on Friday night from the Weinstein Co., Smith was added at the urging of the committee of unsecured creditors. The five-member committee includes an actress and former Weinstein Co. employee who have filed suits accusing Harvey Weinstein of sexual misconduct.
The committee is seeking to maximize the value of the Weinstein Co. estate, providing the largest possible return for creditors. In addition to Weinstein’s victims, the unsecured creditors include numerous law firms, studios, and vendors.
“We are delighted to welcome Ms. Smith to our Board,” Bob Weinstein, the company chairman, said in a statement. “Ms. Smith brings not only substantial...
- 4/21/2018
- by Gene Maddaus
- Variety Film + TV
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