Bidder for the Weinstein Company Wants to Bring in a Majority-Female Board
The Weinstein Company might not be done, after all— though, if one potential reported bidder has her way, the production house will look and operate very differently. According to Deadline, Maria Contreras-Sweet, the founder of ProAmerica Bank and the former head of the Small Business Administration from 2014 to 2017, has placed a bid for the beleaguered company.
In a letter to the board, which was obtained by The Wall Street Journal, Contreras-Sweet wrote that, following the multiple allegations of sexual assault and harassment against the co-founder Harvey Weinstein, she wants to rebuild the company with women at the helm. Contreras-Sweet wrote, “Reorganizing the Company as a woman-led venture will be an inspiration to the industry and a new model for how an entertainment company can be both financially successful and treat all its employees with dignity and respect.”
As part of the proposed deal, Contreras-Sweet would become the executive chairwoman with a majority-female board. Bob Weinstein, Harvey’s brother, would be asked to leave the company, though the 157 employees would be retained. Contreras-Sweet would also rename TWC and start a fund for Harvey Weinstein’s alleged victims