The transaction includes an $80m compensation fund for victims of Harvey Weinstein, who resigned from the TWC board last year.
One of the conditions of the deal going through is that Harvey Weinstein will not benefit financially from the sale.
The company has backed films including The King’s Speech, The Artist, Silver Linings Playbook and Quentin Tarantino’s Django Unchained.
Under the $500m deal, which will save 150 jobs, the Weinstein Company will be renamed and hire a new board of directors, the majority of which will be women.
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