Harvey Weinstein had a plan in the works to purchase Rolling Stone magazine before his career-shattering sexual harassment scandal, according to a recent report.
Before allegations of Weinstein's sexual misconduct hit national headlines, and during negotiation for the Rolling Stone, the Hollywood film mogul took out a $4 million crisis mortgage on his $15 million Manhattan townhouse, Page Six reported. That debt is now being used to fund his high-priced legal battles, according to the report.
After being fired from his company, resigning from the board, and admitting himself into rehab, the disgraced film mogul has left around 30 bidders to court Rolling Stone co-founder and publisher Jann Wenner.
Bidders now include former Live Nation Entertainment executive chairman and Eagles manager Irving Azoff who is putting together a $30 million plus offer backed by Madison Square Garden chairman James Dolan.
Weinstein's bid for Rolling Stone was dropped after the New York Times and New Yorker published revealing pieces earlier this month that gave a voice to Hollywood women accusing him of sexual harassment, abuse and rape. Since the original report, more than 50 women have come forward to share their stories, revealing accusations of sexual misconduct spanning three decades.