Post by The Ultimate Nullifier on Mar 20, 2018 20:24:14 GMT -6
www.hollywoodreporter.com/news/mark-cuban-stake-weinstein-disclosed-bankruptcy-filing-1095842
Mark Cuban Stake in the Weinstein Co. Disclosed in Bankruptcy Filing
The Dallas Mavericks owner has a 2.276 percent stake in the studio via five Texas-based companies, including 2929 Media and Radical Investments.
There were certain to be surprises as the Weinstein Co. filed for bankruptcy protection on Monday night.
One curious detail that emerged is that billionaire Mark Cuban owns at least 2.276 percent of the studio that plunged into chaos in the wake of dozens of women accusing co-founder Harvey Weinstein of sexual harassment and assault. Cuban's stake comes from five Dallas-based companies, including 2929 Media and Radical Investments.
The Chapter 11 bankruptcy papers, filed in Delaware, provide a thorough look at the company's revenue and debt. Cuban's five companies are listed among 32 Class A-1 owners, which also includes Tarak Ben Ammar's A-1 Internation Investments.
THR reached out to Cuban, who declined comment.
The disclosure comes at a time when Cuban's Dallas Mavericks team has been rocked by allegations of widespread sexual harassment within the organization. The Mavericks hired outside counsel last month to investigate the claims.
The fact that Cuban had invested money in TWC in the past would seem odd given that he also owns Magnolia Pictures, an indie distributor that sometimes competes against TWC for film acquisitions on the festival circuit. Furthermore, Cuban had been openly critical of TWC years ago over the studio's handling of the release of The Road. Cuban also once threatened to block a bid from Weinstein, brother Bob and Ron Burkle to buy Miramax. That bid was eventually unsuccessful.
Mark Cuban Stake in the Weinstein Co. Disclosed in Bankruptcy Filing
The Dallas Mavericks owner has a 2.276 percent stake in the studio via five Texas-based companies, including 2929 Media and Radical Investments.
There were certain to be surprises as the Weinstein Co. filed for bankruptcy protection on Monday night.
One curious detail that emerged is that billionaire Mark Cuban owns at least 2.276 percent of the studio that plunged into chaos in the wake of dozens of women accusing co-founder Harvey Weinstein of sexual harassment and assault. Cuban's stake comes from five Dallas-based companies, including 2929 Media and Radical Investments.
The Chapter 11 bankruptcy papers, filed in Delaware, provide a thorough look at the company's revenue and debt. Cuban's five companies are listed among 32 Class A-1 owners, which also includes Tarak Ben Ammar's A-1 Internation Investments.
THR reached out to Cuban, who declined comment.
The disclosure comes at a time when Cuban's Dallas Mavericks team has been rocked by allegations of widespread sexual harassment within the organization. The Mavericks hired outside counsel last month to investigate the claims.
The fact that Cuban had invested money in TWC in the past would seem odd given that he also owns Magnolia Pictures, an indie distributor that sometimes competes against TWC for film acquisitions on the festival circuit. Furthermore, Cuban had been openly critical of TWC years ago over the studio's handling of the release of The Road. Cuban also once threatened to block a bid from Weinstein, brother Bob and Ron Burkle to buy Miramax. That bid was eventually unsuccessful.