Co-founder Harvey Weinstein was fired by the company last week.
NEW YORK — The Weinstein Co., mired in a sex scandal related to its co-founder, may be putting itself up for sale.
The company said Monday that it is getting an immediate cash infusion from Colony Capital, founded by Tom Barrack, and is in negotiations for the potential sale of all or a significant portion of the movie studio responsible for films like «Shakespeare in Love» and «Gangs of New York.»
No other details of the talks were announced.
«We believe that Colony’s investment and sponsorship will help stabilize the company’s current operations,» Weinstein board member Tarak Ben Ammar said in the statement.
«We will help return the company to its rightful iconic position in the independent film and television industry,» said Barrack.
Co-founder Harvey Weinstein was fired by the company last week following allegations of sexual harassment and assault. The allegations span decades.
The fallout has been swift, with Weinstein issuing a lengthy and seemingly tone-deaf apology while losing various honors. The Academy of Motion Picture Arts and Sciences has revoked his membership.
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The Washington Post contributed to this story.
