Weinstein Co. Reportedly Nears Sale To Group Led By Ex-SBA Chief

(RTTNews) - A group led by former Small Business Administration chief Maria Contreras-Sweet entered exclusive talks to buy the troubled Weinstein Co. film studio, according to reports citing a person familiar with the talks.

The negotiations could lead to a sale of the company in the next two weeks, the reports said

Contreras-Sweet, who served under President Barack Obama, has emerged as the lead bidder among a group of would-be buyers that included Lions Gate Entertainment Corp. and beIN, the Qatar-based owner of Miramax -- the previous film studio founded by brothers Harvey and Bob Weinstein.

Under terms she presented to Weinstein Co. in November, Contreras-Sweet would lead a majority-female board to supervise the company, which has teetered near bankruptcy after Harvey Weinstein was accused of sexual harassment or assault by several women. Contreras-Sweet's investment group would assume most of the liabilities of Weinstein Co. and create a fund to supplement its insurance and compensate victims of sexual harassment.