After struggling financially for months, and losing plenty of buyers along the way, the Weinstein Company is finally close to closing a deal, but that’s not exactly good news for the company. The sale is set for far less than was hoped for and won’t even come close to covering the company’s debt.
The Weinstein Company received 20 offers before their December 22 deadline and then went on to whittle down their list of prospective buyers to only six. The highest bid is just under $5oo million, which will only absorb about half the Weinstein Company’s current debt. The company has been careful to point out that they will receive no profit from the sale, ...
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