The sale of the Weinstein Co. to Lantern Capital looked like a done deal in May. But according to a new filing in bankruptcy court, the parties subsequently had a bitter clash over millions of dollars in profit participation payments, which almost scuttled the sale.
Lawyers for the Weinstein Co. announced in court on Friday that they had agreed to cut the sale price from $310 million to $287 million. A bankruptcy judge must still approve the change, which is strongly opposed by the Weinstein Co. creditors.
On Wednesday, the company filed a motion to approve the price reduction. In it, lawyers revealed that Lantern had threatened to back out of the deal unless the Weinstein Co. agreed to cover the disputed payments to various A-list actors and directors. For instance, Robert De Niro claims he is owed $940,706 for work on “Silver Linings Playbook.”
The Weinstein Co. threatened to sue Lantern for...
Lawyers for the Weinstein Co. announced in court on Friday that they had agreed to cut the sale price from $310 million to $287 million. A bankruptcy judge must still approve the change, which is strongly opposed by the Weinstein Co. creditors.
On Wednesday, the company filed a motion to approve the price reduction. In it, lawyers revealed that Lantern had threatened to back out of the deal unless the Weinstein Co. agreed to cover the disputed payments to various A-list actors and directors. For instance, Robert De Niro claims he is owed $940,706 for work on “Silver Linings Playbook.”
The Weinstein Co. threatened to sue Lantern for...
- 6/27/2018
- by Gene Maddaus
- Variety Film + TV
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