Weinstein Company Agrees to a Rescue Investment From Colony Capital

Weinstein Company Agrees to a Rescue Investment From Colony Capital


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Thomas J. Barrack Jr. is the founder and chief executive of Colony Capital.

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Peter Foley/Bloomberg

The Weinstein Company said on Monday that it had agreed to a financial lifeline from Colony Capital, securing vital cash as the embattled studio reels from the growing scandals surrounding its co-founder, Harvey Weinstein.

In a short statement, the Weinstein Company said that it had a preliminary agreement from Colony for an immediate cash infusion. The amount was not disclosed. The statement said the two sides would negotiate over selling some or all of the studio’s assets to Colony.

Colony’s founder and chief executive is Thomas J. Barrack Jr., a financier who is one of President Trump’s closest outside advisers.

Mr. Weinstein has been at the center of a widening crisis since The New York Times and The New Yorker revealed sexual harassment and rape allegations against him going back decades.

Mr. Barrack, who made his fortune in real estate, is no stranger to media investments. He stepped in to save Michael Jackson’s Neverland Ranch from foreclosure.



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