WASHINGTON (dpa-AFX) - Maria Contreras-Sweet, a former Obama administration official, has offered to takeover beleaguered film and television studio The Weinstein Co., the offer if successful will see a majority-female board of directors.
Contreras-Sweet has put together a consortium of investors who have offered $275 million for The Weinstein Co, according to reports. Contreras-Sweet's plans for a majority-female board at The Weinstein Co. should her offer is successful.
'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,' Contreras-Sweet said a letter sent to TWC.
The movie studio has been striving very hard to avoid bankruptcy as well as find a buyer after it was hit with a huge scandal when over 50 women claimed that its founder Harvey Weinstein sexually harassed or assaulted them over the past three decades.
Last week, TWC sold its North American distribution rights for 'Paddington 2' to Warner Bros. in a deal worth about $30 million, which will help the studio to avoid bankruptcy while it explores other options.
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