An attempt by Qatar-owned film company Miramax to buy The Weinstein Co. has complicated plans to sell the studio to a group of investors led by former Obama administration official Maria Contreras-Sweet, the Los Angeles Times reported on Tuesday, citing people familiar with the matter.
In November, Contreras-Sweet put together a consortium of investors who offered $275 million for The Weinstein Co.
But Harvey and Bob Weinstein, who co-founded The Weinstein Co. in 2005 and own about 46 percent of the business, have been trying to steer the company toward a deal with Miramax, the Los Angeles Times said.
The Weinstein Co. has been looking for a buyer or rescue financing since last fall as the studio continues to grapple with the fallout of sexual harassment allegations against former co-chairman, Harvey Weinstein, who left the company three months ago.
The company's investment bankers at Moelis & Co. have been focused on an outright sale, rather than a debt restructuring or bankruptcy.
On Monday, Killer Content, the movie producer that has partnered with philanthropist Abigail Disney in a consortium vying to acquire The Weinstein Co., said a bankruptcy may be the best way forward for the embattled U.S. film and TV studio.
Both Miramax and The Weinstein Co. could not be immediately reached for a comment.