Weinstein Company Files Bankruptcy, Lantern Capital to Purchase Nearly All Assets

The Weinstein Company filed for bankruptcy in Delaware on Monday, in hopes to enter an organized sale process with a stalking horse bidder in Lantern Capital Partners.

The Dallas-based private equity firm has agreed to keep the studio’s employees on as a “going concern,” should the bankruptcy court approve the sale.

“While we had hoped to reach a sale out of court, the board is pleased to have a plan for maximizing the value of its assets, preserving as many jobs as possible and pursuing justice for any victims,” Bob Weinstein said in a statement provided to TheWrap.

Also Read: Weinstein Company Faces ‘Instant Bankruptcy’ if Current Bidder Withdraws

In addition to bankruptcy sale, the board of directors made a jaw-dropping announcement that it would release Harvey Weinstein’s accusers from their nondisclosure agreements — effectively ending a long and widely-reported pattern of silence.

“The Board also expressed its great appreciation to New York Attorney General Eric Schneiderman, and his colleagues, for helping the Company achieve these objectives,” he added of the state politician, who sued to block an original $500 million sale over lack of victims compensation among other concerns.

The voluntary filing ends a long attempt to rescue the indie film and TV studio that has unraveled since the ouster of co-founder Harvey last October after dozens of women accused him of sexual assault and harassment.

Earlier this month, a group of investors led by Maria Contreras-Sweet and Ron Burkle withdrew from an agreement to purchase the company, citing what they called the sudden revelation of $50 million in additional liabilities.

Only days prior to the news, Contreras-Sweet trumpeted that she found a way to purchase almost all TWC’s assets and avoid a bankruptcy process — negotiating a deal that met with the approval of both TWC’s three remaining board members, including co-founder Bob Weinstein and Schneiderman.

Also Read: Weinstein Co Bankruptcy Means Harvey’s Accusers May Never Get Paid by Studio

Schneiderman had thrown a monkey wrench into the sale plans last month by filing a lawsuit over civil rights violations and had argued the case for a more generous compensation fund for women found to have been victims of Weinstein’s abusive behavior.

Only days before the hopeful investors bailed, they triumphantly announced a plan to save the company’s roughly 150 jobs, to pay a long line of TWC creditors and vendors and to establish a victims fund.

The New York-based company, founded in 2005 by, has cut an outsize swath in the indie film world, producing back-to-back Oscar Best Picture winners (2010’s “The King’s Speech” and 2011’s “The Artist”) as well as mainstream hits like Quentin Tarantino’s “Django Unchained,” “Scary Movie 4” and the family film “Paddington.”

TWC’s profitable TV division boasts one megahit franchise: Lifetime’s long-running fashion reality series “Project Runway” and its many spinoffs. It has also produced episodic series such as MTV’s “Scream” and Netflix’s “Marco Polo,” which were both canceled after two seasons.

In conclusion, the TWC board said it “regrets that it cannot undo the damage Harvey Weinstein caused, but hopes that today’s events will mark a new beginning. Even as the Company heads into bankruptcy, the Company remains committed to doing whatever it can to maximize value for its creditors and, in cooperation with Attorney General, continue its pursuit of justice for any victims.”

Related stories from TheWrap:

Weinstein Co Blasts ‘Excuses’ From Maria Contreras-Sweet Over Failed Sale

Weinstein Company Sale Collapses After $50 Million Liability Curveball

Kroll and Mulaney Roast Harvey Weinstein, Louis CK, Kevin Spacey in Spirit Awards Monologue

The Weinstein Company filed for bankruptcy in Delaware on Monday, in hopes to enter an organized sale process with a stalking horse bidder in Lantern Capital Partners.

The Dallas-based private equity firm has agreed to keep the studio’s employees on as a “going concern,” should the bankruptcy court approve the sale.

“While we had hoped to reach a sale out of court, the board is pleased to have a plan for maximizing the value of its assets, preserving as many jobs as possible and pursuing justice for any victims,” Bob Weinstein said in a statement provided to TheWrap.

In addition to bankruptcy sale, the board of directors made a jaw-dropping announcement that it would release Harvey Weinstein’s accusers from their nondisclosure agreements — effectively ending a long and widely-reported pattern of silence.

“The Board also expressed its great appreciation to New York Attorney General Eric Schneiderman, and his colleagues, for helping the Company achieve these objectives,” he added of the state politician, who sued to block an original $500 million sale over lack of victims compensation among other concerns.

The voluntary filing ends a long attempt to rescue the indie film and TV studio that has unraveled since the ouster of co-founder Harvey last October after dozens of women accused him of sexual assault and harassment.

Earlier this month, a group of investors led by Maria Contreras-Sweet and Ron Burkle withdrew from an agreement to purchase the company, citing what they called the sudden revelation of $50 million in additional liabilities.

Only days prior to the news, Contreras-Sweet trumpeted that she found a way to purchase almost all TWC’s assets and avoid a bankruptcy process — negotiating a deal that met with the approval of both TWC’s three remaining board members, including co-founder Bob Weinstein and Schneiderman.

Schneiderman had thrown a monkey wrench into the sale plans last month by filing a lawsuit over civil rights violations and had argued the case for a more generous compensation fund for women found to have been victims of Weinstein’s abusive behavior.

Only days before the hopeful investors bailed, they triumphantly announced a plan to save the company’s roughly 150 jobs, to pay a long line of TWC creditors and vendors and to establish a victims fund.

The New York-based company, founded in 2005 by, has cut an outsize swath in the indie film world, producing back-to-back Oscar Best Picture winners (2010’s “The King’s Speech” and 2011’s “The Artist”) as well as mainstream hits like Quentin Tarantino’s “Django Unchained,” “Scary Movie 4” and the family film “Paddington.”

TWC’s profitable TV division boasts one megahit franchise: Lifetime’s long-running fashion reality series “Project Runway” and its many spinoffs. It has also produced episodic series such as MTV’s “Scream” and Netflix’s “Marco Polo,” which were both canceled after two seasons.

In conclusion, the TWC board said it “regrets that it cannot undo the damage Harvey Weinstein caused, but hopes that today’s events will mark a new beginning. Even as the Company heads into bankruptcy, the Company remains committed to doing whatever it can to maximize value for its creditors and, in cooperation with Attorney General, continue its pursuit of justice for any victims.”

Related stories from TheWrap:

Weinstein Co Blasts 'Excuses' From Maria Contreras-Sweet Over Failed Sale

Weinstein Company Sale Collapses After $50 Million Liability Curveball

Kroll and Mulaney Roast Harvey Weinstein, Louis CK, Kevin Spacey in Spirit Awards Monologue

Weinstein Co. Seeks New Buyer to Avoid Bankruptcy, Says Employees Will Still Be Paid

The Weinstein Company is still seeking a buyer after the withdrawal of investors Maria Contreras-Sweet and Ron Burkle, executive Bob Weinstein informed employees on Thursday.

After months of chaos following the sexual assault scandal surrounding former CEO Harvey Weinstein, his brother Bob informed staff that “payroll obligations will continue to be met” while the board of directors seeks a new owner.

“The board is still in discussions with potential buyers who want to keep the company and employees as a going concern,” Weinstein wrote in a companywide email obtained by TheWrap. About 157 people work across the film and TV studios.

Also Read: NYPD Detective Says Harvey Weinstein Case Has ‘Considerable Evidence’

While TWC insiders previously told TheWrap that bankruptcy was a foregone conclusion if the lowball $500 million sale to the Contreras-Sweet group didn’t complete, it seems board members Bob Weinstein, Lance Maerov and Tarak Ben Ammar think they have a fighting chance.

The memo sent today also suggests that a town hall meeting was either promised to or suggested by employees, where they might directly address leadership about their dramatically uncertain future.

“Until there is something more specific to address you with, the need for a video town hall would lead to more questions than answers. I will continue to update you and when the time is proper to announce something more specific, then we will have the town hall meeting,” Weinstein concluded.

Also Read: Weinstein Company Sale Collapses After $50 Million Liability Curveball

Read the full memo:

Dear All,

I wanted to keep everyone updated in what is obviously an incredibly fluid situation. The board is still in discussions with potential buyers who want to keep the company and employees as a going concern. That has been one of our main goals and we are still pursuing it. Payroll obligations will be continued to be met.

I understand this is a stressful time for everyone and your [patience] and support during this time is very much appreciated by me and the board. Until there is something more specific to address you with the need for a video town hall would lead to more questions than answers. I will continue to update you and when the time is proper to announce something more specific, then we will have the town hall meeting.

Best regards,
Bob Weinstein

Related stories from TheWrap:

Weinstein Co. Seeks New Buyer to Avoid Bankruptcy, Says Employees Will Still Be Paid

NYPD Detective Says Harvey Weinstein Case Has ‘Considerable Evidence’

Weinstein Co Blasts ‘Excuses’ From Maria Contreras-Sweet Over Failed Sale

The Weinstein Company is still seeking a buyer after the withdrawal of investors Maria Contreras-Sweet and Ron Burkle, executive Bob Weinstein informed employees on Thursday.

After months of chaos following the sexual assault scandal surrounding former CEO Harvey Weinstein, his brother Bob informed staff that “payroll obligations will continue to be met” while the board of directors seeks a new owner.

“The board is still in discussions with potential buyers who want to keep the company and employees as a going concern,” Weinstein wrote in a companywide email obtained by TheWrap. About 157 people work across the film and TV studios.

While TWC insiders previously told TheWrap that bankruptcy was a foregone conclusion if the lowball $500 million sale to the Contreras-Sweet group didn’t complete, it seems board members Bob Weinstein, Lance Maerov and Tarak Ben Ammar think they have a fighting chance.

The memo sent today also suggests that a town hall meeting was either promised to or suggested by employees, where they might directly address leadership about their dramatically uncertain future.

“Until there is something more specific to address you with, the need for a video town hall would lead to more questions than answers. I will continue to update you and when the time is proper to announce something more specific, then we will have the town hall meeting,” Weinstein concluded.

Read the full memo:

Dear All,

I wanted to keep everyone updated in what is obviously an incredibly fluid situation. The board is still in discussions with potential buyers who want to keep the company and employees as a going concern. That has been one of our main goals and we are still pursuing it. Payroll obligations will be continued to be met.

I understand this is a stressful time for everyone and your [patience] and support during this time is very much appreciated by me and the board. Until there is something more specific to address you with the need for a video town hall would lead to more questions than answers. I will continue to update you and when the time is proper to announce something more specific, then we will have the town hall meeting.

Best regards,
Bob Weinstein

Related stories from TheWrap:

Weinstein Co. Seeks New Buyer to Avoid Bankruptcy, Says Employees Will Still Be Paid

NYPD Detective Says Harvey Weinstein Case Has 'Considerable Evidence'

Weinstein Co Blasts 'Excuses' From Maria Contreras-Sweet Over Failed Sale

Weinstein Co Blasts ‘Excuses’ From Maria Contreras-Sweet Over Failed Sale

The Weinstein Company’s board of directors doesn’t want to hear Maria Contreras-Sweet’s “excuses,” the group said in a statement after the entrepreneur called off her prospective purchase of the company.

“We are disappointed by the announcement today that the investor group led by Maria Contreras-Sweet and Ron Burkle has (again) walked away from its bid to buy the assets of The Weinstein Company,” the statement read. “Although we publicly predicted this outcome, the Board entered last week’s agreement in the hope and good faith that a transaction would save this Company and its employees. The investors’ excuse that they learned new information about the Company’s financial condition is just that — an excuse.”

Also Read: Weinstein Company Sale Collapses After $50 Million Liability Curveball

The bidding group led by Ron Burkle and Maria Contreras-Sweet announced earlier Tuesday that it had pulled out of the deal, with an individual familiar with the deal telling TheWrap that a $50 million liability that appeared “out of the blue” had caused the deal to collapse.

Just five days ago, the Contreras-Sweet Group announced that it had found a satisfactory deal to purchase almost all of TWC’s assets, despite a turn of events that involved a lawsuit from New York’s attorney general and a Chapter 11 threat from the existing TWC board.

The Company has been transparent about its dire financial condition to the point of announcing its own LIKELY bankruptcy last week,” TWC continued. “We regret being correct that this buyer simply had no intention of following through on its promises. Nevertheless, this Board will not quit. We will continue to work tirelessly — as we have for months — to determine if there are any viable options outside of bankruptcy. In the meantime, we continue to pursue an orderly bankruptcy process to maximize the Company’s value.”

Also Read: Kroll and Mulaney Roast Harvey Weinstein, Louis CK, Kevin Spacey in Spirit Awards Monologue

Had the deal been completed, Contreras-Sweet had planned to form a rebranded TWC with a female-majority board of directors while creating a compensation fund for those who have accused former CEO Harvey Weinstein of sexual harassment and assault. Weinstein has named in over 80 accusations of harassment, rape, and abuse.

A sale amount was not immediately disclosed, though the investors had been exclusively negotiating for the company at a $500 million price –half of it cash, and the other half an assumption of the studio’s existing debt.

Related stories from TheWrap:

Weinstein Company Sale Collapses After $50 Million Liability Curveball

Kroll and Mulaney Roast Harvey Weinstein, Louis CK, Kevin Spacey in Spirit Awards Monologue

A Short History of Harvey Weinstein’s Oscar Campaigns (Photos)

The Weinstein Company’s board of directors doesn’t want to hear Maria Contreras-Sweet’s “excuses,” the group said in a statement after the entrepreneur called off her prospective purchase of the company.

“We are disappointed by the announcement today that the investor group led by Maria Contreras-Sweet and Ron Burkle has (again) walked away from its bid to buy the assets of The Weinstein Company,” the statement read. “Although we publicly predicted this outcome, the Board entered last week’s agreement in the hope and good faith that a transaction would save this Company and its employees. The investors’ excuse that they learned new information about the Company’s financial condition is just that — an excuse.”

The bidding group led by Ron Burkle and Maria Contreras-Sweet announced earlier Tuesday that it had pulled out of the deal, with an individual familiar with the deal telling TheWrap that a $50 million liability that appeared “out of the blue” had caused the deal to collapse.

Just five days ago, the Contreras-Sweet Group announced that it had found a satisfactory deal to purchase almost all of TWC’s assets, despite a turn of events that involved a lawsuit from New York’s attorney general and a Chapter 11 threat from the existing TWC board.

The Company has been transparent about its dire financial condition to the point of announcing its own LIKELY bankruptcy last week,” TWC continued. “We regret being correct that this buyer simply had no intention of following through on its promises. Nevertheless, this Board will not quit. We will continue to work tirelessly — as we have for months — to determine if there are any viable options outside of bankruptcy. In the meantime, we continue to pursue an orderly bankruptcy process to maximize the Company’s value.”

Had the deal been completed, Contreras-Sweet had planned to form a rebranded TWC with a female-majority board of directors while creating a compensation fund for those who have accused former CEO Harvey Weinstein of sexual harassment and assault. Weinstein has named in over 80 accusations of harassment, rape, and abuse.

A sale amount was not immediately disclosed, though the investors had been exclusively negotiating for the company at a $500 million price –half of it cash, and the other half an assumption of the studio’s existing debt.

Related stories from TheWrap:

Weinstein Company Sale Collapses After $50 Million Liability Curveball

Kroll and Mulaney Roast Harvey Weinstein, Louis CK, Kevin Spacey in Spirit Awards Monologue

A Short History of Harvey Weinstein's Oscar Campaigns (Photos)

The Weinstein Company Sale is Off, Again

Prospective buyer Maria Contreras-Sweet said “disappointing” new information is causing her to terminate her purchase of the studio.

Less than a week after Maria Contreras-Sweet and her fellow investors announced plans to acquire The Weinstein Company’s assets — capping what had been weeks of turbulent negotiations — she now says she will not go forward with the purchase. Read Contreras-Sweet’s full statement below.

All of us have worked in earnest on the transaction to purchase the assets of The Weinstein Company.  However, after signing and entering into the confirmatory diligence phase, we have received disappointing information about the viability of completing this transaction.

As a result, we have decided to terminate this transaction.

I would like to thank the employees and the board of The Weinstein Company for pursuing this opportunity with us and Attorney General Eric Schneiderman for playing a crucial role at a critical time. I especially want to thank Ron Burkle and The Yucaipa Companies for their advice, showing faith in this deal, and taking an unusual step of subordinating many typical investor board rights to the women who would have led this company. I would like to thank Lantern Asset Management for their early capital commitment and Len Blavatnik for his willingness to look at creative options on the debt side. Lastly, I would like to thank Tarak Ben Ammar.

I believe that our vision to create a women-led film studio is still the correct course of action. To that end, we will consider acquiring assets that may become available in the event of bankruptcy proceedings, as well as other opportunities that may become available in the entertainment industry.

I remain committed to working to advance women’s business ownership in all sectors and to inspire girls to envision their futures as leaders of important companies.

More to come…

Jenna MarottaPosted on Categories IndieWireTags , , ,

Weinstein Co Deal Is Off Again

UPDATE: Still trying to find out exactly why The Weinstein Company deal cratered so abruptly. Word is that payroll was due today, and that money was supposed to be floated by the new buyer, in the deal worked out last week. The money wasn’t paid. Also heard that was because the buyer didn’t get all the documents it was looking for. That payroll and operating fund commitment was about $1.8 million. So now Moelis & Co. will likely put TWC into 363 bankruptcy as soon as…

UPDATE: Still trying to find out exactly why The Weinstein Company deal cratered so abruptly. Word is that payroll was due today, and that money was supposed to be floated by the new buyer, in the deal worked out last week. The money wasn’t paid. Also heard that was because the buyer didn’t get all the documents it was looking for. That payroll and operating fund commitment was about $1.8 million. So now Moelis & Co. will likely put TWC into 363 bankruptcy as soon as…

At the Oscars’ Governors Ball, Relief at a Break From All the Scandal

The relief was palpable for a scandal-worn Hollywood at the Governors Ball on Sunday night —  at the familiarity of the Oscar ritual, at the results of the awards. Finally tradition was back and respected and for a minute no change was needed.

The industry needed a moment to catch its breath after the laserlike scrutiny of the media around #TimesUp, and from nonstop waves of business consolidation and cultural criticism. And, hey, it was nice to have a telecast with a minimum of catastrophic screw-ups.

There was lots of love in the room for Guillermo del Toro, winner for both Best Picture and Best Director. He said all the right words at the podium, and it’s undeniable that he has become a beloved figure across the industry through this awards season.

Also Read: Oscars 2018 After-Parties: Winners Frances McDormand, Jordan Peele and Kobe Bryant Celebrate (Photos)

“It’s justice,” said Alejandro Innaritu, who has himself twice won Best Director and Best Picture, for “The Revenant” and “Birdman,” and is one of Del Toro’s closest friends. He was beaming with pride, even though it wasn’t his win.

“The guy has been giving himself and his imagination and curiosity and his heart in every film,” he went on. “And after 25 years he’s recognized in this way — something came back.”

There were deep sighs of joy, and relief too, around the Fox Searchlight table. The arthouse studio released both “Shape of Water” and “Three Billboards Outside Ebbing, Missouri” and had a well-deserved moment of triumph — playing to win at the Oscars without the resources of the bigger competitors (including parent company Fox).

Also Read: Oscars: 5 Things You Didn’t See on TV, From Kobe Bryant to Sam Rockwell’s Barney Fife Inspiration

The studio’s many wins on Oscar night might dissipate, at least a little, the nimbus of anxiety that hangs over its future as it heads toward a new owner in Disney. Nancy Utley, Steve Gilula and all their executives seemed practically bent over from joyful exhaling, and hovered like happy parents around their winners and nominees – including Richard Jenkins and Sam Rockwell. Even past Fox studio chief Jim Gianopulos (now running Paramount) couldn’t stay away.

We buttonholed Frances McDormand who responded with a sharp – “What are you looking for?” – before we could get out “Congratulations and what about this inclusion rider?”

She paused to explain: “It’s a contractual thing that’s been in place for a long time. I didn’t know about it and I’ve been in the business for 35 years. But anyone negotiating a contract – director, writer, actor – we can have an inclusion rider saying we ask for at least 50 percent diversity in the cast and the crew.”

Can that be achieved when so many movies don’t have an equal number of roles for men and women?

The balance can be spread, she explained.

“Just look a little bit closer, you’ll find not tokenism but you can find someone ready to step into that role who is diverse,” she said.

There’s a question of whether or not this is practical in the tough negotiating byways of the business — but “that’s the hope,” said her agent Brian Swardstrom, acknowledging that it probably can’t happen overnight.

Meanwhile, business rivalries were spread across the room, unspoken and present. Bob Iger and his team — who won Oscars for “Coco” and its song, and whose “Black Panther” rules at the box office — was on one side of the ballroom. Meanwhile, Comcast chief Brian Roberts stood with the Universal and Focus team on the other side. The two chieftains are effectively facing off over the European cable behemoth, Sky, which Comcast just swooped in to try and buy out from under Rupert Murdoch, who is in the middle of a deal to sell his movie and TV assets to Disney.

Meanwhile, grocery billionaire Ron Burkle — who supposedly bought The Weinstein Company last week with Maria Contreras-Sweet — didn’t want to talk. “I’m just here to have fun with my friends,” he said, begging off business chat.

Everyone seemed to have the same idea. Exhaustion from the business mano-a-mano and the do-not-call-him-by-his-Harvey-Weinstein name was like a spell spread all around the room.

For a an hour or two, it was like movie heaven.

Related stories from TheWrap:

Oscars Viewership Drops to All-Time Low of 26.5 Million

Seth MacFarlane Thinks There’s Too Much Drama at the Oscars

Emma Watson Sports ‘Time’s Up’ Tattoo After the Oscars (Photo)

The relief was palpable for a scandal-worn Hollywood at the Governors Ball on Sunday night —  at the familiarity of the Oscar ritual, at the results of the awards. Finally tradition was back and respected and for a minute no change was needed.

The industry needed a moment to catch its breath after the laserlike scrutiny of the media around #TimesUp, and from nonstop waves of business consolidation and cultural criticism. And, hey, it was nice to have a telecast with a minimum of catastrophic screw-ups.

There was lots of love in the room for Guillermo del Toro, winner for both Best Picture and Best Director. He said all the right words at the podium, and it’s undeniable that he has become a beloved figure across the industry through this awards season.

“It’s justice,” said Alejandro Innaritu, who has himself twice won Best Director and Best Picture, for “The Revenant” and “Birdman,” and is one of Del Toro’s closest friends. He was beaming with pride, even though it wasn’t his win.

“The guy has been giving himself and his imagination and curiosity and his heart in every film,” he went on. “And after 25 years he’s recognized in this way — something came back.”

There were deep sighs of joy, and relief too, around the Fox Searchlight table. The arthouse studio released both “Shape of Water” and “Three Billboards Outside Ebbing, Missouri” and had a well-deserved moment of triumph — playing to win at the Oscars without the resources of the bigger competitors (including parent company Fox).

The studio’s many wins on Oscar night might dissipate, at least a little, the nimbus of anxiety that hangs over its future as it heads toward a new owner in Disney. Nancy Utley, Steve Gilula and all their executives seemed practically bent over from joyful exhaling, and hovered like happy parents around their winners and nominees – including Richard Jenkins and Sam Rockwell. Even past Fox studio chief Jim Gianopulos (now running Paramount) couldn’t stay away.

We buttonholed Frances McDormand who responded with a sharp – “What are you looking for?” – before we could get out “Congratulations and what about this inclusion rider?”

She paused to explain: “It’s a contractual thing that’s been in place for a long time. I didn’t know about it and I’ve been in the business for 35 years. But anyone negotiating a contract – director, writer, actor – we can have an inclusion rider saying we ask for at least 50 percent diversity in the cast and the crew.”

Can that be achieved when so many movies don’t have an equal number of roles for men and women?

The balance can be spread, she explained.

“Just look a little bit closer, you’ll find not tokenism but you can find someone ready to step into that role who is diverse,” she said.

There’s a question of whether or not this is practical in the tough negotiating byways of the business — but “that’s the hope,” said her agent Brian Swardstrom, acknowledging that it probably can’t happen overnight.

Meanwhile, business rivalries were spread across the room, unspoken and present. Bob Iger and his team — who won Oscars for “Coco” and its song, and whose “Black Panther” rules at the box office — was on one side of the ballroom. Meanwhile, Comcast chief Brian Roberts stood with the Universal and Focus team on the other side. The two chieftains are effectively facing off over the European cable behemoth, Sky, which Comcast just swooped in to try and buy out from under Rupert Murdoch, who is in the middle of a deal to sell his movie and TV assets to Disney.

Meanwhile, grocery billionaire Ron Burkle — who supposedly bought The Weinstein Company last week with Maria Contreras-Sweet — didn’t want to talk. “I’m just here to have fun with my friends,” he said, begging off business chat.

Everyone seemed to have the same idea. Exhaustion from the business mano-a-mano and the do-not-call-him-by-his-Harvey-Weinstein name was like a spell spread all around the room.

For a an hour or two, it was like movie heaven.

Related stories from TheWrap:

Oscars Viewership Drops to All-Time Low of 26.5 Million

Seth MacFarlane Thinks There's Too Much Drama at the Oscars

Emma Watson Sports 'Time's Up' Tattoo After the Oscars (Photo)

Weinstein Company Board Member Tarak Ben Ammar On How Marathon Negotiation Session Spared A Bankruptcy Plunge

EXCLUSIVE: All it took today to snatch the assets of The Weinstein Company back from a bankruptcy plunge was a 12-hour negotiating session, fueled by a common goal between New York Attorney General Eric Schneiderman, the remaining TWC board members Tarak Ben Ammar, Lance Maerov and Bob Weinstein, and Maria Contreras-Sweet and Ron Burkle. Latter will pay $500 million for the assets and relaunch a new company that will have a female-dominated board, and that will keep the…

EXCLUSIVE: All it took today to snatch the assets of The Weinstein Company back from a bankruptcy plunge was a 12-hour negotiating session, fueled by a common goal between New York Attorney General Eric Schneiderman, the remaining TWC board members Tarak Ben Ammar, Lance Maerov and Bob Weinstein, and Maria Contreras-Sweet and Ron Burkle. Latter will pay $500 million for the assets and relaunch a new company that will have a female-dominated board, and that will keep the…