NEW YORK (AP) — A private equity firm has emerged as the winning bidder for the Weinstein Co., The film and TV studio forced into bankruptcy by the sexual misconduct scandal that brought down Hollywood mogul Harvey Weinstein.
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The Weinstein Co. Announced Tuesday that no other bidder offered more value to the company than Dallas-based Lantern Capital. The firm has offered $310 million in cash for the Weinstein Co.’S assets. It also has agreed to assume about $125 million in project-related debt and to cover obligations related to the assumption of certain contracts and leases.
The sale is subject to approval by a Delaware bankruptcy court, which has set a sale hearing for next week.
More:Ashley Judd discusses her lawsuit against Harvey Weinstein on ‘Good Morning America’.
Earlier:Harvey Weinstein scandal: Ex-employee alleges multiple sexual assaults over years.