In the seven weeks or so since The New York Times published an exposé on Harvey Weinstein, Weinstein has fallen swiftly and rightfully from grace, and other industry predators like Brett Ratner, Louis C.K. and now Charlie Rose have been called out. Another effect of the Weinstein revelations? The Weinstein Company (TWC) — which the disgraced mogul ran with his brother, Bob, before being ousted last month — is on its last legs. And now there are reports that former Obama White House official Maria Contreras-Sweet as well as a coalition of filmmakers, activists, philanthropists, and investors are interested in buying TWC as a way to support women.
According to The Hollywood Reporter, Contreras-Sweet has offered $275 million to buy TWC. If her bid goes through, she plans to replace the company’s all-male board with a majority-female one. In the letter outlining her offer, Contreras-Sweet admitted to being “profoundly affected by the recent revelations.” She believes that “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.” She also hopes to organize a fund and mediation process for Weinstein’s victims.
Contreras-Sweet’s bid is being backed by silent partners, THR notes, many of whom are women. One person who has given her blessing is Gloria Allred, the feminist attorney representing several Weinstein victims as well as some of the Bill Cosby and Donald Trump accusers.
Per BuzzFeed, Project Level Forward, a group of filmmakers, activists, philanthropists, and investors, has also expressed interest in buying off TWC’s assets and “directing profits to groups that serve survivors of assault, harassment, and discrimination.”
Media company Killer Content is behind the coalition, which currently boasts philanthropist and filmmaker Abigail Disney, the New York Women’s Foundation (NYWF), and anti-harassment organizations Hollaback! and A Call to Men.
“Profits from completed films would be donated to organizations that serve survivors of assault, harassment, and discrimination, while those still in production would be assessed based on their alignment with Project Level Forward’s principles,” BuzzFeed clarifies. Upcoming projects like the film adaptation of Lin-Manuel Miranda’s “In the Heights” would continue to be developed while projects that go against “principles of equality, peace, and social justice” would be reconsidered or cancelled completely.
“These films are toxic,” said Hollaback!’s Emily May of TWC’s catalogue. “Watching them is a direct investment in rape culture. The Killer buyout turns all of that on its head.”
If Project Level Forward’s buyout goes through, Killer Films’ Christine Vachon and Pamela Koffler would oversee development of TWC’s film library, and business matters would be handled by Killer Content’s Adrienne Becker. NYWF would be responsible for the holding and distribution of proceeds. “The idea that we could transform these assets into generating opportunities for safety, opportunities for solutions, is an extremely powerful idea,” explained NYWF President Ana Oliveira. “We do have the means to translate this cultural uproar into sustainable change over time.”
Variety writes that no deal is expected to be finalized this week, “but there is a sense of urgency to the negotiations.” TWC is trying to maintain its relationships to third-party distributors like Netflix while doing what it can to keep its current staff. “Contreras-Sweet’s group wants to retain the studio’s senior leadership, including COO David Glasser,” the source writes. “They do not want Weinstein Co. co-chairman Bob Weinstein to be involved, and they want to ensure that neither he nor Harvey Weinstein profits from the sale.”
While Contreras-Sweet and Project Level Forward’s intentions are commendable, we can’t help but ask, “why?” Why buy TWC or its assets with the goal of supporting women and other assault survivors when you could use your money to set up your own company or just donate it directly to women’s charities or non-profits? Why not use the cash to invest in female filmmakers’ projects instead? If you want to support and protect women in the entertainment industry (or elsewhere), there are plenty of ways to go about it without doing business with TWC. The Weinstein Company aided and abetted Harvey Weinstein’s behavior, not to mention his brother’s behavior, for years. Instead of trying to reform and rebuild it, let it go and start something new and better.
