The statement from The Weinstein Company reads, “We are pleased to announce that we have entered into an agreement to sell the assets of The Weinstein Company to an investor group led by Maria Contreras-Sweet and Ron Burkle.
The Weinstein Company agreement will allow the group to launch a female-led studio.
After months of controversy, The Weinstein Company board has accepted a bit to sell the assets to an investor group, according to Variety.
In a statement, Contreras-Sweet said, “Our team is pleased to announce that we have taken an important step and have reached an agreement to purchase assets from The Weinstein Company in order to launch a new company, with a new board and a new vision that embodies the principles that we have stood by since we began this process last fall.