Harvey Weinstein’s bankrupt movie studio has a settlement that will allow it to close its sale to Lantern Capital Partners at a discounted price, WSJ Pro Bankruptcy reported. Lantern will shave $21 million off the originally agreed $310 million price for the business of Weinstein Co., the entertainment company brought down by allegations of sexual assault and harassment against its co-founder. Harvey Weinstein has denied engaging in nonconsensual sex. He pleaded not guilty on Monday to New York state court sex-crime charges after being indicted for predatory sexual assault and a first-degree criminal sex act. The most recent charges are in addition to others, including charges of first- and third-degree rape. Weinstein Co. filed for chapter 11 bankruptcy protection in March, shunned in the entertainment industry and facing an onslaught of litigation for allegedly failing to stop, or aiding, Harvey Weinstein. Lantern, a Dallas buyout firm, had demanded a $23 million price cut, provoking an outcry from the official committee of unsecured creditors. A mid-July court fight was scheduled, with junior creditors vowing to challenge the company’s decision to bow to Lantern’s demands.
