Weinstein Co. to Be Sold for Less Than $500 Million: WSJ

Weinstein Co., the embattled studio cofounded by disgraced producer Harvey Weinstein, is close to a sale for less than $500 million, the Wall Street Journal reported, citing unidentified people familiar with the matter.

Because of legal bills and operating expenses, owners would receive no cash from a deal, which would include the assumption of roughly $250 million in debt, the newspaper said. The board has selected six potential buyers, including studio Lions Gate Entertainment Corp., a group led by former Small Business Administration chief Maria Contreras-Sweet, production company Killer Content and investment firms Vine Alternative Investments and Shamrock Capital Investments, the Journal said.