A judge said yesterday she will approve the sale of the bankrupt television and film studio co-founded by Harvey Weinstein to private-equity firm Lantern Capital Partners for $310 million, WSJ Pro Bankruptcy reported. The sale of Weinstein Co. assets, subject to closing conditions, is expected to give the troubled studio a second life under new ownership. The transaction was approved by Judge <b>Mary Walrath</b> in the U.S. Bankruptcy Court in Wilmington, Del. The company filed for chapter 11 protection in March, six months after allegations of sexual assault and sexual harassment were first published against Mr. Weinstein and after attempts to sell the studio outside of bankruptcy failed. Proceeds from the sale will be used to reimburse Weinstein Co. creditors in a debt repayment plan that will need to be negotiated and later approved by the court. The sale proceeds are likely to produce substantial funds for alleged victims of Weinstein, including women who have pending lawsuits against the studio, according to sources. (Subscription required.)
