UPDATE MAR 6: DEAL IS DEAD Maria Contreras-Sweet, Obama SBA Head, Announces Investor Purchase Of The Weinstein Company

 Maria Contreras-Sweet by Alex Wong, Ron Burkle by David M. Benett

Maria Contreras-Sweet by Alex Wong, Ron Burkle by David M. Benett

Never Mind: "500 Million Deal to Save the Weinstein Company Is Kaput Vanity Fair

Maria Contreras-Sweet announced Thursday afternoon that an investor group lead by herself and billionaire Ron Burkle reached a deal to buy The Weinstein Company. The complex and infuriating negotiations to reach a deal that kept TWC from not having to declare bankruptcy even included New York State Attorney General Eric Schneiderman, who ended up acting as a necessary mediator, given the complexity of TWC's legal problems. 

In a statement Schneiderman said:  "As part of these negotiations, we are pleased to have received express commitments from the parties that the new company will create a real, well-funded victims' compensation fund, implement HR policies that will protect all employees, and will not unjustly reward bad actors. We will work with the parties in the weeks ahead to ensure that the parties honor and memorialize these commitments prior to closing."

Contreras-Sweet, who served as 24th Administrator of the Small Business Administration in the Obama Administration, and Burkle organized the group of investors who are putting up $500 million to buy the once-powerful indie film and television production company founded by Weinstein and his brother, Bob in 2005. 

The Hollywood Reporter writes that "the buyers have agreed to establish a victims' fund amounting to $80 million-$90 million, as much as two times higher than the fund they originally planned to put in place. Also, there appear to be no plans now for Contreras-Sweet and Burkle to retain David Glasser as CEO of the new company."

Contreras-Sweet issued this full statement:

Our team is pleased to announce that we have taken an important step and have reached an agreement to purchase assets from The Weinstein Company in order to launch a new company, with a new board and a new vision that embodies the principles that we have stood by since we began this process last fall. Those principles have never wavered and have always been to build a movie studio led by a board of directors made up of a majority of independent women, save about 150 jobs, protect the small businesses who are owed money and create a victims’ compensation fund that would supplement existing insurance coverage for those who have been harmed. The cornerstone of our plan has been to launch a new company that represents the best practices in corporate governance and transparency.

This next step represents the best possible pathway to support victims and protect employees.

We are grateful to the New York State Attorney General’s office for their efforts in helping us reach an agreement and we are grateful to our investors who have believed in this process and in the compelling value of a female-led company. We also want to thank all the parties who returned to the negotiating table to help us reach this development.

I have had a long-standing commitment to fostering women ownership in business. This potential deal is an important step to that end.

It's believed that Contreras-Sweet will rename the company and more its headquarters from the old Beverly Hills office to a space in Larchmont Village, which previously served as home to the now-defunct Broad Green Pictures. 

Florida Lawmakers Say They Will Not Debate Gun Control But Declare Porn A Health Risk

 A small group of Parkland students arrive in Tallahassee, Fla state capitol ahead of Wednesday's students, to watch the legislature refuse to debate gun control the same day they declared porn a health risk to these students.

A small group of Parkland students arrive in Tallahassee, Fla state capitol ahead of Wednesday's students, to watch the legislature refuse to debate gun control the same day they declared porn a health risk to these students.

After posting on FB last night that South Carolina lawmakers want to declare gay marriage 'parody marriage', I see that Fla lawmakers are also very, very busy.

Our brave Parkland kids rose the buses for 8 hrs. yesterday to their state capitol -- sleeping in the civic center w/their parent minders Tuesday night -- even though Fla legislators announced yesterday that there is no way they will debate an assault weapon ban or other gun legislation.

BUT the legislators DID have time to declare porn a health risk, reports BuzzFeed. .

I REPEAT, Fla legislators declared porn to be health risk but say they will NOT debate gun control in any form. My international friends, this is the state of the American conservative Republican mind today, the Trump mind in action.

More guns. Less porn. Maybe porn is so important to them because they buy more of it and watch it on Sunday. The credit card companies have worked in HUGE research studies -- like 500,000 porn purchases -- to identify by state and date bought.

Throw these bums OUT! I repeat. Throw these bums OUT, OUT, OUT! If you believe getting rid of porn is more important than gun legislation, which Americans overwhelmingly support, then these kids will lead a movement to get you OUT of office.

I am not optimistic that the kids will seriously change the laws. But I AM optimistic that they will clarify just how misguided our legislators are in what is important and a TRUE danger to the health of our kids. These kids will strip them naked in their right-wing priorities.

Note that I'm not speaking of all conservatives, several of whom I really like and agree with. I am speaking of religious bigots, the so-called words of God tribe who has installed their man Trump in office..

Hollywood producer Jeffrey Katzenberg and his wife Marilyn, joined the Clooney's and Oprah, with a $500,000 commitment to March for Our Lives, calling the Parkland students "remarkable young people" -- and they are.

Fearless Girl Will Get A Permanent Home In New York, Taking Charging Bull With Her


Great News! Fearless Girl is staying in Manhattan permanently, probably inseparable from her nemesis statue, Charging Bull. In the wake of the #MeToo movement, the duo seem even more inseparable. Such a decision will surely prompt wine-vinegar words from Charging Bull's, men are the masters of the universe, artist Arturo Di Modica. 

Because Fearless Girl has brought so many tourists and visitors to her small location in Wall Street, officials have traffic and safety concerns around her permanent location. Negotiations are underway between the Mayor's Office and State Street Global Advisors, who birthed Fearless Girl in time for International Women's Day 2017, regarding her long-term future location. 

“The message of the Fearless Girl statue has resonated with New Yorkers and visitors alike,” a spokesperson for Mayor Bill de Blasio told Adweek. “Its enthusiastic reception has been heartening, and we are discussing various approaches to ensure this statue continues to be a part of the city’s civic life.”

Millions of tourists and natives have indeed flocked to see the statue since its March 7, 2017, debut. Analysts estimate that the work, which cost a reported $250,000, had generated more than $7 million in free marketing after only six months. Equally important, SSGA said 76 of 476 companies in which it invests had “actively worked to promote women” as a direct result of the campaign. Other cities have expressed interest in installing their own versions of Fearless Girl.