It probably would have been easy to just let Harvey Weinstein's embattled company, The Weinstein Company, fall into bankruptcy, ending the disgraced producer's long legacy of abusing women. But that would have provided no help or closure, plus it would have taken jobs from the 150 people the company employs, who don't deserve to be punished because their boss is a piece of human garbage. What to do? Obviously, women have the answer.
A group of investors, primarily female, saved TWC from bankruptcy at the last minute, swooping in with $500 million to buy the company. That includes $80 million they've pledged to put into a relief fund to disperse to Weinstein's many victims. They also plan to remove the board that covered up Weinstein's actions and install their own mostly female board and keep all of TWC's innocent employees in their jobs. Oh, and they're led by Maria Contreras-Sweet, the former head of the Small Business Administration during Barack Obama's presidency and basically just an all-around feminist badass who believes in giving women all the same opportunities that are given to men.
"I have had a long-standing commitment to fostering women ownership in business," she said in a statement. "This potential deal is an important step to that end."
The deal isn't done yet. It will take 40 days to be complete. But at the end of that, the women who are stepping up hope to have a movie and TV production studio with a new name and a new commitment to giving women a platform to tell their stories. The timing for this couldn't be more perfect. Women are poised to run the new, post-reckoning Hollywood, and the industry can only get better because of it.
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