:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/6F4BDQPCVU2TNZ4LYKGOEMK274.jpg)
The Weinstein Company is in talks with private equity firm Colony Capital over a potential sale of "all or a significant portion" of its assets amid growing allegations of sexual assault by film producer Harvey Weinstein.
The company said it had also reached an agreement that will see Colony provide an “immediate” cash injection for the independent film studio.
The statement, issued by the Weinstein Company regarding the potential sale and cash injection, did not reference recent allegations of sexual assault against the film producer.
Tarak Ben Ammar, a Weinstein Company board member, said: "On behalf of the board, we are pleased to announce this agreement and potential strategic partnership with Colony Capital.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/TDDTT6EVJE6H4XHINSRLNCQ6CE.jpg)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/ZOI6DF5KWWV5FHWVS2GPAOAJKQ.jpg)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/NNBRKQ6FGHYICMBXMSPUUM4ZUY.jpg)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/6LWVP4QHUZWDWK7SLYCUWPXI5A.jpg)
“We believe that Colony’s investment and sponsorship will help stabilise the company’s current operations, as well as provide comfort to our critical distribution, production and talent partners around the world.
“Colony’s successful experience and track record in media and entertainment will be invaluable to the company as we move forward.”
- PA
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/OEJH4J26O5AYXCS2RGZU5JOCXY.png)