The high-profile film studio that Hollywood mogul Harvey Weinstein founded with his brother, Bob Weinstein, may soon be up for sale or shut down altogether.
The Weinstein Company's board of directors has been talking to possible buyers as it explores what to do with the studio amid backlash from the dozens of sexual assault and harassment allegations levied against Harvey Weinstein, the Wall Street Journal reported Friday.
The board fired Harvey Weinstein on Sunday, though the media mogul is expected to challenge the legality of his termination at this month's board meeting. The company then considered changing its name, but that plan is no longer an option, a person close to the studio told the Journal.
Bob Weinstein denied that a potential sale or shutdown is in the works.
"Our banks, partners, and shareholders are fully supportive of the company and it is untrue that the company or board is exploring a sale or shutdown," he said in a statement. "Business is continuing as usual."
Still, the Journal reported that interested buyers have approached board members and others close to the Weinstein Company. But it is unclear whether any such deal could be reached or how the company would operate going forward.
Another option is for the company to shut down, which would entail its library of movies and TV shows and other assets being sold in pieces.