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A Sweet Chance For The Weinstein Company

Courtesy of Deadline

Courtesy of Deadline

Jamie Park, Staff Writer

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  Maria Contreras-Sweet, a former Barack Obama administration official, organized a group of investors to buy the Weinstein Co.: a production studio.

  The company is known for hit movies like Silver Linings Playbook and Django Unchained. However, Weinstein Co. began to dwindle after 50 women came out accusing co-chairman Harvey Weinstein of sexual misconduct for over three decades.

  Weinstein denies all allegations made, but the company’s popularity continues to decline. The company’s recent movie, Paddington 2, earned them enough money to continue on its own until January.

  With $375 million in debt plus a $45 million loan from Al International Holdings, Contreras-Sweet offers to buy the studio for $275 million along with $30 million for each Weinstein victim.

  If her offer goes, she plans to create a board with the majority being females. All 157 employees would be kept, and the studio would continue its movie-making business.

  She told the Weinstein Company in a letter, “I believe we have now reached a crossroads where it is imperative that a woman-led board acquire control of the Company and create content that continues to inspire audiences around the world, especially our young girls and boys.”

  Sheena Uchino (11) reacted to this and said, “I wouldn’t call myself a feminist, but I believe in equal rights. I feel like [Contreras-Sweet] should have good, valid reasons to create a majority female board. If she’s creating a majority female board for the sake of having majority females, I think that it is a little unfair. Man or woman should have an equal opportunity to be on board.”

  However, Bob Weinstein, Weinstein’s brother, refuses to stay with the company once the offer goes through.

  In response, Ali Ahmad (12) said, “This is a great decision because Bob Weinstein also sexually harassed his own co-workers. The company is better off without him.”

  With Contreras-Sweet investing in the Weinstein Company, its future is still unknown: if the investment does not go through, the company may go bankrupt by the end of January. If the investment does go through, Contreras-Sweet will not only have Weinstein Co. in her hands but a majority female leadership.

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A Sweet Chance For The Weinstein Company