The Weinstein Co. Drops Purchase Price, “Creditors Feel Thrown Under The Bus”

The Weinstein Co. has dropped its price by 7% to complete the sale to Lantern Capital, provoking howls of protest from the unsecured creditors who said they feel “thrown under the bus.” The lead attorney for the Dallas-based private equity firm said The Weinstein Co.’s board agreed this morning to reduce the price from $310 million to $287 million in order to close the sale, according to a recording of today’s hearing. The $23 million concession will mean less money for…

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