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Harvey Weinstein's Company Officially Declares Bankruptcy

The Weinstein Company has declared bankruptcy.

The film company – co-founded by Harvey and Bob Weinstein – made the announcement on Monday (March 19), as it is not able to survive amid the allegations of sexual abuse against Harvey that emerged last fall, Variety reports.

The company might be able to reorganize and produce TV shows and movies under new ownership. Lantern Capital placed a “stalking horse” bid, which offers a floor for a bankruptcy auction.

According to a source, Lantern’s bid is between $300 million to $320 million, most of which would take the form of assumed debt. The $500 million bid from billionaire Ron Burkle and others collapsed two weeks ago.

“The Board selected Lantern in part due to Lantern’s commitment to maintain the assets and employees as a going concern,” the company said in a statement. “The Company hopes that this orderly sale process under the supervision of the Bankruptcy Court will allow it to maximize the value of the Company’s assets for the benefit of its creditors and other stakeholders.”

The company also revealed that it has released its employees from their non-disclosure agreements, as part of an ongoing negotiation with New York Attorney General Eric Schneiderman.

“No one should be afraid to speak out or coerced to stay quiet,” the company said. “The Company thanks the courageous individuals who have already come forward. Your voices have inspired a movement for change across the country and around the world.”

Kathie Lee Gifford Reached Out to Harvey Weinstein & Bill Cosby Amid Scandals: 'I Don't Judge Them'

Kathie Lee Gifford is opening up about why she decided to reach out to Harvey Weinstein and Bill Cosby after they were both accused of sexual misconduct.

During her interview on Andy Cohen‘s radio show, the 64-year-old Today show host revealed that she reached to both of her friends when their scandals first broke.

“I don’t want to throw everybody on the same manure pile. Being a jerk is not the same as being a rapist. It just isn’t,” Kathie said. “I’ve been friends with Bill for a long, long time…Harvey Weinstein was a friend of mine for 30 years. I called him and left a message.”

“I just want people to know I don’t judge them. I don’t like what they do, but God knows their hearts and there’s hope for them,” Kathie continued. “You can’t call yourself a friend if the first minute there’s trouble, you run. That’s called a fair-weather friend and that’s not a friend at all.”

Kathie went on to defend herself, saying that she does not approve of anything Bill and Harvey are being accused of.

“I hope people are not misunderstanding this. I’m not saying that that kind of behavior is in any way acceptable. It isn’t, and it’s horrible, and as a woman who has experienced it, it’s awful,” Kathie concluded. “But can we at least look at each individual case and see it for what it is? And be merciful to people who are sorry for what they’ve done? If we stop having mercy as a part of our vocabulary, Andy, our world will completely die.”

Jennifer Lawrence Reveals What She Wants to See Happen to Harvey Weinstein

Jennifer Lawrence appeared on 60 Minutes on Sunday (February 25) and she was asked about her reaction to Harvey Weinstein‘s downfall and the sexual misconduct allegations against him.

“When it came out and I heard about it, I wanted to kill him. The way he destroyed so many women’s lives. I want to see him in jail,” the 27-year-old Red Sparrow star said.

Jennifer also confirmed in the interview that she had never been a victim of sexual misconduct at the hands of Weinstein.

Jennifer‘s name was recently included in a lawsuit from Weinstein and she fired back in a powerful statement.

Harvey Weinstein's Company to Declare Bankruptcy

The Weinstein Company will declare bankruptcy after a $500 million deal to sell the company collapsed.

The company, which was co-founded by Harvey and Bob Weinstein, made the announcement on Sunday (February 25), according to Variety.

A sale was close to being announced exactly two weeks ago, but the lawsuit filed by New York Attorney General Eric Schneiderman reportedly caused the deal to fizzle.

“Despite your previous statements, it is simply impossible to avoid the conclusion that you have no intention to sign an agreement – much less to close one – and no desire to save valuable assets and jobs,” a letter from the company to the bidding group lead investors Ron Burkle and Maria Contreras-Sweet reads.

The bid group was reportedly unwilling to put immediate cash up to keep the company afloat with their operating expenses.

“We will now pursue the Board’s only viable option to maximize the Company’s remaining value: an orderly bankruptcy process.”

For the full letter, head to

Harvey Weinstein Apologizes for Using Meryl Streep & Jennifer Lawrence's Names in Lawsuit

Harvey Weinstein is apologizing for using statements made by Meryl Streep and Jennifer Lawrence in his defense in a sexual misconduct class action suit.

The producer issued a statement on Wednesday (February 22).

Mr. Weinstein acknowledges the valuable input both Meryl Streep and Jennifer Lawrence have contributed to this conversation and apologizes. Moving forward, Mr. Weinstein has advised his counsel to not include specific names of former associates; and to avoid whenever possible, even if they are in the public record,” his reps said.

Both Meryl and Jennifer issued strong statements denouncing the usage of their names.

Mr. Weinstein has been informed that his civil counsel responded in court to a class action lawsuit which improperly sought to include all actresses who had previously worked with Mr. Weinstein, even where those actresses have made no claim of wrongdoing. Even though Mr. Weinstein has worked with hundreds of actresses and actors who had only professional and mutually respectful experiences with him, Mr. Weinstein has directed in the future that no specific names be used by his counsel, even where those actors have made previous public statements about him.”

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