Weinstein Co said to explore sale or shutdown, but company denies report

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FILE PHOTO: Milestone Award honoree producer Weinstein arrives at the Producers Guild of America Awards in Beverly Hills, California

(Reuters) – The Weinstein Co, the film production company part-owned by Harvey Weinstein, is exploring a sale or shutdown and is unlikely to continue as an independent entity, The Wall Street Journal reported on Friday, but the company’s co-chairman, Bob Weinstein, denied the report.

“Our banks, partners and shareholders are fully supportive of our company and it is untrue that the company or board is exploring a sale or shutdown of the company,” co-chairman Bob Weinstein said in a statement. “Business is continuing as usual as the company moves ahead.”

The New Yorker magazine reported on Tuesday that 13 women have claimed that movie producer Harvey Weinstein sexually harassed or assaulted them.

Last Sunday The Weinstein Co fired co-chairman Harvey Weinstein, following a report of sexual harassment allegations against the executive by the New York Times.

The board previously had been considering appointing co-chairman Bob Weinstein, Harvey Weinstein’s brother, and President David Glasser to continue operating Weinstein Co with a new name, but that plan is no longer on the table, according to the WSJ report. (http://on.wsj.com/2wTQYtS)

(Reporting by Ankur Banerjee and Piya Sinha Roy; editing by Clive McKeef)

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