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2018-02-26 — latimes.com
The decision came after the board was unable to revive a deal to sell the struggling studio to an investor group led by Maria Contreras-Sweet, who ran the Small Business Administration under President Obama from 2014 to 2017.
The bid, backed by billionaire investor Ronald Burkle and Dallas private equity firm Lantern Asset Management, would have given Contreras-Sweet's consortium control of Weinstein Co.'s assets in a deal worth about $500 million. Their bid promised a new era for the once high-flying studio that has been in a tailspin since allegations against Harvey Weinstein shook the entertainment industry to its core more than four months ago.
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But the discussions came to a sudden halt Feb. 11 when the New York attorney general's office filed a civil rights lawsuit against Weinstein Co. and its co-founders. The following day, Atty. Gen. Eric Schneiderman blasted the proposed sale and questioned the existence of the promised victims fund based on documents he'd reviewed.
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