Investor group cancels deal to buy Weinstein Co. - KSBY.com | San Luis Obispo and Santa Barbara Area News

Investor group cancels deal to buy Weinstein Co.

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NEW YORK (AP) - A group of investors says it has pulled out of a deal to buy the beleaguered Weinstein Co., citing "disappointing information" about the viability of the sale.

Businesswoman Maria Contreras-Sweet made the announcement in a statement Tuesday. She did not offer more details about why the deal fell apart but said the group may still be interested in acquiring assets of the movie and TV studio out of bankruptcy proceedings.

The announcement came just days after Contreras-Sweet and the Weinstein Co. had revived the deal following arduous negotiations with New York State Attorney General Eric Schneiderman, who has filed a lawsuit against the company.

The studio has been trying to stave off bankruptcy since sexual assault and harassment accusations emerged last fall against its co-founder, Harvey Weinstein.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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