It’s game back on for The Weinstein Company sale, or at least a sign of life that bidders led by entrepreneur Maria Contreras-Sweet will have a sit-down with New York Attorney General Eric Schneiderman who upended her purchase of the studio earlier this month.
The Contreras-Sweet Group and advisers including Ron Burkle will meet with Schneiderman on Wednesday, individuals familiar with those attending the meeting told TheWrap.
An agenda was not immediately clear, but Schneiderman made his grievances known over the planned rebirth of the studio following Harvey Weinstein’s dismissal and resignation form the board of directors last fall, following his widely reported sexual assault and harassment scandal.
Representatives for Schneiderman and the Contreras-Sweet Group declined to comment on the matter.
Scnheiderman filed a lawsuit against the existing TWC board and leadership last week, citing civil rights violations and accusing executives of being complicit in Weinstein’s alleged abuse. He specifically cited David Glasser, the TWC COO who was fired on Friday night “for cause” by the company’s remaining board members and had been expected to emerge as CEO under Contreras-Sweet.
With Glasser’s removal, the Wednesday meeting can presumably discuss settling the lawsuit and allowing the Contreras-Sweet Group’s $500 million purchase to close. Schneiderman’s other sticking point in the suit was an adequate “victims fund” for Weinstein’s accusers, which TheWrap previously reported was worth $50 million. Schneiderman said that no such fund was included in documents provided his team.
Schneiderman’s suit did not block the sale, but the attorney general’s office can file a temporary restraining order blocking it within 30 days of the sale contract being signed.
Film and TV assets are at stake in the sale of the company including Robert De Niro’s “War With Grandpa” and Benedict Cumberbatch’s “The Current War.” The company also has the right to adapt Lin-Manuel Miranda’s Tony-winning musical “In The Heights,” with the Tony winner attached to star.
Should Contreras-Sweet’s deal for the company fall through, an insider at TWC previously told TheWrap that the one-time indie giant faces “instant bankruptcy.”