By Tara Woods – The Collegiate Staff
Weinstein Company Facing Bankruptcy.
The Weinstein Company, previously run by Harvey Weinstein and his brother is filing for bankruptcy.
After a deal to sell the company fell through, the board announced the news Sunday evening, according to a letter obtained by Variety.
The letter was addressed to Maria Contreras-Sweet and Ron Burkle, the potential buyers of the company. The pair had offered to buy the company for around $275 million and assume $225 million in debt. However, the letter refers to their plans as “illusionary.”
“While we deeply regret that your actions have led to this unfortunate outcome for our employees, our creditors, and any victims, we will now pursue the Board’s only viable option to maximize the company’s remaining value: an orderly bankruptcy process,” the board stated in the letter.
This letter came just two weeks after New York Attorney General, Eric T. Schneiderman, filed a lawsuit against the Weinstein brothers for violations of New York’s human rights, civil rights and business laws when they enabled Harvey Weinstein’s sexual abuses.
The board claims the organization worked “tirelessly to finalize an agreement to present to the Attorney General for approval” and that it agreed to “virtually every demand” the investors proposed. However, it also states that Contreras-Sweet and Burkle did not keep their “promises,” including provisions for “gold standard” human resource policies, as well as “necessary interim funding.” In addition, the letter claimed the investors imposed new conditions that would make the closing take longer than expected.
“We believed in this Company and in the goals set forth by the Attorney General. Based on the events of the past week, however, we must conclude that your plan to buy the company was illusory and would only leave this company hobbling toward its demise to the detriment of all constituents,” the letter read. “The Board will not let this happen. Despite your previous statements, it is simply impossible to avoid the conclusion that you have no intention to sign the agreement—much less close one—and no desire to save valuable assets and jobs. This is regrettable, but not in our power to change.”
Harvey Weinstein faces countless sexual assault and abuse allegations and was terminated from the company in October 2017.
Kylie Jenner reveals a new collection inspired by her baby.
On Thursday, Kylie Jenner revealed her new Kylie Cosmetics collection via social media. Her newest collection includes matte lipsticks, glitter eyeshadows, lip gloss, highlighter and eyeshadow palettes all inspired by her baby girl who was born early February.
“I worked on this pretty much my entire pregnancy,” Jenner explained in a video shared to her Instagram story. “Right after we chose Stormi’s name, her name really inspired me. I spent a lot of time on this collection and put a lot of detail into it… So I’ll try to show you guys all the fun detail.”
In addition to her palettes “Calm before the Storm” and “Eye of the Storm,” Jenner named many of her products after her and Travis Scott’s newborn. Her individual shadows include names like “True Love,” “Sunshine,” “Northern Light,” “Little Wonder,” “Starbaby” and “Heaven Sent.”
In addition, all of the products are covered in “storm” symbols including lightning bolts and clouds in shades of electric yellow and blue.
If you want to pick up any of the Weather Collection cosmetics, they launch on KylieCosmetics.com on Feb. 28, 2018, at 3 p.m. PST.
J.J. Abrams has a script for “Star Wars: Episode IX”
“Star Wars” fans can officially start getting pumped for the next episode.
The final chapter in the trilogy won’t be in theaters until Dec. 20, 2019, seven months after its originally planned release date, but Abrams shared some information about the next movie during his time on “The Late Show” last Wednesday.
Daisy Ridley, John Boyega, Adam Driver and Oscar Isaac are all confirmed to be coming back for the final movie. “We have a script, which is a big deal for me. It starts shooting end of July,” Abrams told show host, Stephen Colbert. “Having a script in advance is something I haven’t always been lucky enough to have. I’m writing this with Chris Terrio, who is a genius, and I’m having a great time.”
Before signing on with Disney to direct, produce and write 2015’s “Star Wars: The Force Awakens” Abrams said, “I was terrified. Luckily, I was surrounded by incredible people. We had a lot of fun. Being back for Episode IX is as surreal as it gets and really exciting.”
Abram’s went on to admit how nervous he was that he might not live up to the fans’ expectations when making the movies but knew he couldn’t pass up the opportunity.
“As scary as it is to put yourself in (front of) that firing squad,” he said. “The opportunity is always bigger than the fear.”
Rain Johnson stepped in to write and direct the sequel for “Star Wars: The Last Jedi,” but Abrams was still a producer on the project. Lucasfilms announced in September that Abrams would be returning for Episode XI, replacing Colin Trevorrow.
“With The Force Awakens, J.J. delivered everything we could have possibly hoped for,” Lucasfilm president Kathleen Kennedy said. “And I am so excited that he is coming back to close out this trilogy.”
Trevorrow and Walt Disney Pictures “mutually” decided to part. “Colin has been a wonderful collaborator throughout the development process,” a rep for the studio clarified. “But we have all come to the conclusion that our visions for the project differ.”
