Today: 25.05.2018
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Contreras-Sweet bid for Weinstein Co. could be revived.

The $500 million bid by the group headed by Maria Contreras-Sweet to buy the embattled Weinstein Company could be getting resuscitated — despite a sweeping lawsuit filed Sunday by NY Attorney General Eric Schneiderman. “The situation is fluid,” said one source close the attorney general’s office. Both sides have been in contact about reviving the...
Time: 16:26     Date: 13.02.2018
Last US Business News: Contreras-Sweet bid for Weinstein Co. could be revived. NY Post 24 - US News

“The situation is fluid,” said one source close the attorney general’s office.

Both sides have been in contact about reviving the deal since the suit was filed, according to sources on both sides.

In addition, Gloria Allred, the attorney representing a number of the victims of alleged sexual harassment by TWC co-founder Harvey Weinstein, on Monday issued another strong vote of confidence for the bid headed by Contreras-Sweet, who was the head of the Small Business Administration for three years under President Obama.

“The only clear pathway to truly helping victims, many of whom I represent, is to allow this deal to proceed,” Allred said. “ I have worked with Maria’s team and they are 100 percent committed to helping victims. That is why I unequivocally support their deal.”

She added, “If the Weinstein Company is allowed to slip into bankruptcy, which is what may happen due to this lawsuit by the AG, I have grave concerns there will not be any funds left for victims.”

The AG on Sunday filed a lengthy suit naming Harvey, his co-founder brother Bob Weinstein and the company itself as defendants after a four-month investigation in which new infractions were alleged in Harvey Weinstein’s decade-long history of alleged predatory sexual behavior. The allegations involve everyone from lowly assistants and aspiring models and actresses to some of the industry’s biggest stars.

Among the claims in the 38-page lawsuit, Harvey Weinstein used a team of “wing women” to scout other women as potential sex partners for Weinstein. His limo driver was said to always carry a stash of Viagra and condoms on board in case they were needed by Harvey for his trysts.

David GlasserGetty Images

Schneiderman was also said to have a problem with Chief Operating Officer David Glasser as a potential CEO of a new company on the grounds he did not do enough to stop the predatory behavior and may have helped to cover it up, according to sources close to the AG’s office.

One source close to Contreras-Sweet said that while TWC would seek to retain as much of the creative talent at the 200-employee company as possible, it does not mandate that Glasser — or anyone else — take over.

More importantly, a source close to the buy said that the company was prepared to set up a fund with $50 million based on the profits of five future movies. That would be in addition to the $20 million in insurance that the company currently carries.

The AG is said to be very concerned that there be guarantees that victims will be compensated, and that executives with a past history of predatory behavior or involvement in a cover-up do not participate in any new ownership.

The buy-side source also said that two-thirds of the stock in the new company would be controlled by women, and that at least 51 percent of the board of directors would be women.

Ron Burkle’s Yucaipa Cos. and Lantern Asset Management are minority backers in the deal.

Under the bid sheet, the prospective new buyers would be buying the assets for about $275 million and assuming about $225 million in existing debt.

“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 in her original bid letter that went to TWC board in November.

Business

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Opinion

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Americans are far too eager to call the cops on each other.
When I was a teenager, strangers would sometimes stop in front of our house to take pictures of our front yard. We lived...
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The insane crackdown on pain medication.
If you have chronic, agonizing pain, your troubles are about to get worse. New state and federal regulations will make it...
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Boy, oh boy does Mayor de Blasio hate the press. That’s the most striking takeaway from the 4,200 pages of e-mails the...
Last US News - Opinion: Will Senate progressives hold prison reform hostage?. NY Post 24 - US News
Will Senate progressives hold prison reform hostage?.
Will Senate Democrats like New Jersey’s Cory Booker really block a bill that gives federal inmates a second chance? By...

Living

US Living News: The best reason to go vegetarian has nothing to do with health. NY Post 24 - US News
The best reason to go vegetarian has nothing to do with health.
A vegetarian diet won’t just help to keep your waist slimmer — it’ll also keep your wallet fatter. Researchers...
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This Jewish comedian has a lot to kvetch about.
Imagine John Oliver in a yarmulke, minus the Trump remarks. That’s pretty much what you’ll get from Ashley Blaker, the...
US Living News: Trace amounts of opioids found in shellfish off Seattle coast. NY Post 24 - US News
Trace amounts of opioids found in shellfish off Seattle coast.
Researchers at the Washington Department of Fish and Wildlife have discovered trace amounts of opioids in mussels in several...
US Living News: Military report reveals more strange details on ‘UFO’ sighting. NY Post 24 - US News
Military report reveals more strange details on ‘UFO’ sighting.
UFO sightings are a dime a dozen these days and they have been for a while, but back in December the New York Times released...
US Living News: Bones found in shipwreck don’t belong to infamous pirate. NY Post 24 - US News
Bones found in shipwreck don’t belong to infamous pirate.
YARMOUTH, Mass. – A bone fragment recovered from a Cape Cod shipwreck is not from infamous pirate Samuel “Black...
US Living News: How Coney Island transformed over the past century. NY Post 24 - US News
How Coney Island transformed over the past century.
Coney Island, baby! More than 40 years since Lou Reed’s most romantic album, it’s a pity the rocker isn’t around to...
US Living News: Police have no clue how a gun ended up in driver’s bumper. NY Post 24 - US News
Police have no clue how a gun ended up in driver’s bumper.
LAKEWOOD, Wash. — Talk about gunning the engine. Authorities say a driver near Tacoma, Washington, saw an object strike...
US Living News: Police officer takes homeless man’s dog to vet, pays for bill. NY Post 24 - US News
Police officer takes homeless man’s dog to vet, pays for bill.
A Florida police officer was praised earlier this month for helping a homeless man who needed to take his dog to the vet....

Business

Last US Business News: Tesla accelerated seconds before Autopilot crash in Utah: cops. NY Post 24 - US News
Tesla accelerated seconds before Autopilot crash in Utah: cops.
A Tesla that crashed while in Autopilot mode in Utah this month accelerated in the seconds before it smashed into a stopped...
Last US Business News: Tesla settles class-action lawsuit over its Autopilot system. NY Post 24 - US News
Tesla settles class-action lawsuit over its Autopilot system.
Tesla on Thursday reached an agreement to settle a class action lawsuit with buyers of its Model S and Model X cars who alleged...
Last US Business News: Perry Ellis founder sets deadline for offer to take company private. NY Post 24 - US News
Perry Ellis founder sets deadline for offer to take company private.
Perry Ellis is tired of founder George Felden­kreis’ public efforts to “mischaracterize” the company’s review of...
Last US Business News: Elon Musk wants to name his journalist rating site after Communist newspaper. NY Post 24 - US News
Elon Musk wants to name his journalist rating site after Communist newspaper.
Elon Musk is taking his Twitter tantrums to a whole new level. The increasingly irascible Tesla chief executive went on a...
Last US Business News: Live Nation gave execs $11M in bonuses despite missing targets: suit. NY Post 24 - US News
Live Nation gave execs $11M in bonuses despite missing targets: suit.
A Live Nation investor is accusing the concert promoter of handing out $11 million in bonuses to top execs last year despite...
Last US Business News: Victoria’s Secret could be diving back into swimwear. NY Post 24 - US News
Victoria’s Secret could be diving back into swimwear.
Victoria’s Secret may dip its toe back into the swimsuit business, after all. The struggling lingerie giant’s wishy-washy...
Last US Business News: McDonald’s customers suing for $5M over unwanted cheese. NY Post 24 - US News
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Two McDonald’s customers in Florida are suing the fast-food giant for a hefty sum of $5 million because they say they’re...
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Netflix’s stock market value ballooned to a record $153 billion on Thursday and eclipsed Walt Disney Co. for the first...

Metro

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Bruised toddler found dead in Bronx apartment: cops.
A 3-year-old boy with bruises on his face was found dead in his Bronx apartment, police said. Messiah Allen’s stepfather...
Metro News: Amber Alert issued for toddler whose mother was found dead. NY Post 24 - US News
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New York authorities issued an Amber Alert on Friday for a toddler whose mother was found dead upstate this week. Authorities...
Metro News: De Blasio whines about ‘harmful’ tabloid culture. NY Post 24 - US News
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Mayor Bill de Blasio played the “Trump” card again on Friday — teeing off on the media, especially The Post,...
Metro News: Suspected Bronx bomb-maker charged for stash of guns, drugs. NY Post 24 - US News
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A former Marine accused of trying to blow up a rival drug dealer’s car in 2016 was hauled into Manhattan federal court...
Metro News: How Coney Island transformed over the past century. NY Post 24 - US News
How Coney Island transformed over the past century.
Coney Island, baby! More than 40 years since Lou Reed’s most romantic album, it’s a pity the rocker isn’t around to...
Metro News: 11-year-old girl jumps from apartment roof in apparent suicide: cops. NY Post 24 - US News
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An 11-year-old East Harlem girl jumped to her death from the roof of her 16-story apartment building in an apparent suicide...
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The city can expect a weather roller coaster for the Memorial Day Weekend. It’ll be sunny and breezy Friday and Saturday...
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The MTA’s proposed 10-year subway signal overhaul plan covers nearly everything from A to Z — well, maybe not Z. The...

Sport

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President Trump’s comments Thursday that NFLers who don’t stand for the national anthem “maybe … shouldn’t...
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Keith Olbermann is expanding his role at ESPN — but it was nearly even bigger. The largest aspect of Olbermann’s expanded...
Last US Sport News: Kristaps Porzingis was ‘very bad with police’: Latvian tennis star. NY Post 24 - US News
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Going home hasn’t always been beneficial for Kristaps Porzingis. Last year, he had his driver’s license suspended, according...
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Problems have a tendency to disappear in the wake of victory. Just ask James Harden. The Rockets’ star went 0-of-11...