The Weinstein Company yesterday named a Dallas private equity firm as the winning bidder in its bankruptcy sale, spurning an offer by the Broadway producer Howard Kagan, the New York Times reported. The victor — for now, at least, as a bankruptcy judge still has to sign off and the decision could be challenged by creditors — is Lantern Capital Partners. It entered the sale as the studio’s prearranged bidder, or “stalking horse,” which set a price floor. Lantern offered $310 million plus the assumption of about $115 million in debt. Lantern has no Hollywood experience as its portfolio includes underperforming auto dealerships and a company that recycles zinc. Lantern became involved with the Weinstein Company this year, when it agreed to help finance an attempt to help the troubled studio avert bankruptcy. That effort, led in part by the billionaire Ron Burkle, fell apart in March. The Weinstein Company imploded in October after dozens of women publicly accused its former chief executive, Harvey Weinstein, of sexual misconduct stretching back decades. It announced on March 19 that it would file for bankruptcy. The movie and television studio, once known for Oscar-winning films like “The King’s Speech” and “The Artist,” had less than $500,000 in cash. It was facing a mountain of debt and a swelling number of lawsuits, including one by New York’s attorney general.
