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Beleaguered film studio The Weinstein Company will file for bankruptcy after it failed to sell its assets to new investors.
As reported by the L.A. Times, a proposed $500 million deal collapsed after the New York attorney general's office brought a civil rights lawsuit against The Weinstein Company.
The deal would apparently have included a $40 million fund for Weinstein's victims - although Attorney General Eric Schneiderman called into question whether that fund would have materialised, based on sale documents he'd reviewed.
The board released a statement after it became clear that no compromise would be made with the potential buyers:
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