Tags: tom barrack | harvey weinstein | colony | capital

Billionaire Tom Barrack Sees Value If 'Weinstein Element' Removed From Company

Harvey Weinstein (Anthony Devlin/AP)

Tuesday, 24 October 2017 12:32 PM

Billionaire Tom Barrack, who threw embattled film studio Weinstein Co. a financial lifeline last week, likened the company to a critically injured patient and said it can be revived if links to disgraced co-founder Harvey Weinstein are removed.

“You have a patient that’s dying on the table,” Barrack said Tuesday in a Bloomberg Television interview with Erik Schatzker.

“You need to revive them to get them to breathe first. If you can do that then maybe you can see, can they walk? And if they can walk then perhaps you can get them in a race.”

Barrack’s Colony Capital provided Weinstein Co., whose co-founder Harvey is facing mounting allegations of sexual assault and harassment going back to the 1990s, with a cash infusion and is considering buying some or all of its assets.

Barrack, speaking on Bloomberg TV from Riyadh, said he’ll know “soon” whether Colony will acquire the entire company, adding that evaluating which liabilities against Harvey are attributable to the company is like trying to solve a Rubik’s Cube.

“If the Weinstein element could be removed, if the toxicity of the liabilities that surround it could be addressed, and if the content of the company could continue on in a normal way, there’s some value,” Barrack said. “You have 150 individuals, you have a TV production company, you have an independent film company, you have a distribution company, which has counterparts that are relying on stability.”

“There’s a big difference between the Weinsteins and the company,” he added. “Harvey, whatever the accusations are, his conduct was totally unacceptable, reprehensible, and unacceptable on any terms. No one is interested in salvaging a company which would benefit Harvey.”

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Billionaire Tom Barrack, who threw embattled film studio Weinstein Co. a financial lifeline last week, likened the company to a critically injured patient and said it can be revived if links to disgraced co-founder Harvey Weinstein are removed.
tom barrack, harvey weinstein, colony, capital
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2017-32-24
Tuesday, 24 October 2017 12:32 PM
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