Top Obama official bids for The Weinstein Co.

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A former Obama administrator has put in $275 m (£207.5 m) offer for The Weinstein Company (TWC) – and want to install a majority female council.

The Wall Street Journal reports that Maria Contreras-Sweet, who has led the Small Business Administration, under the presidency of Obama, is behind the offer.

Film producer Harvey Weinstein has been sacked by TWC after being accused of sexual harassment and assault.

He denies all allegations of non-consensual sex.Industry, inspiration,

Contreras-Sweet wants to establish a fund for the Weinstein alleged victims and a process of mediation, the Hollywood Reporter says.

Indicates the entrepreneur is backed by silent partners, many of whom are women.

One of those who support Contreras-Sweet is attorney Gloria Allred, who represents most of the women accusing Harvey Weinstein of sexual harassment and alleged assault.

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The Wall Street Journal says Contreras-Sweet made the offer through a letter sent to the TWC board.

In the letter, the woman writes, has been “deeply affected by the recent revelations,” and that “the reorganization of the company as a woman-led venture will be a source of inspiration for the industry, and a new model of an entertainment company, that can be both financially successful, and to treat all its employees with dignity and respect.”
As the Weinstein scandal explained
Harvey Weinstein accusers

Last week, TWC has given the rights to StudioCanal’s Paddington 2, which will now be released in the UNITED states and Canada by Warner Bros.

Last year, Harvey Weinstein said TWC, including its film library, has a value of up to $800 metres and had no debt.

However, a number of members of the firm have cut ties after the charges against Harvey Weinstein of sexual violence and harassment.

Negotiations to sell TWC had entered into a preliminary agreement with US private equity firm Colony Capital at the beginning of November.

But it is understood the Colony found that the firm is less attractive than what they had thought of it before and the deal fell through.

The Weinstein Company was founded in 2005, twelve years later, the two brothers sold Miramax to Disney.

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