Subscribe To Jay-Z Could Buy Out Harvey Weinstein's Stake In The Weinstein Company Updates
The Weinstein Company is in for some rough sailing, what with the re-branding that the company will be undergoing in light of recent events. But there's already a party interested in buying out the portion of the company that's held by the now fired Harvey Weinstein. With projects already in the stable of what's still currently TWC, musical mogul Jay-Z is looking to take his Hollywood game to the next level, which could be a pretty interesting development; should it happen.
Jay-Z would be at the head of a group of investors that are looking to pick up 23% of The Weinstein Company, which would be a sweetheart deal for the recording artist and husband of Beyonce, as he's currently producing a movie and miniseries project in-house. But this acquisition is also a good thing for the now in-the-lurch production company, as it would manage to solve problems for more than a couple parties both internally and outside of the doors.
With some TV projects already in development at other studios like Amazon, as well as whatever film projects the company's current catalog entails on the line, The Weinstein Company is going to need some fresh capital in order to make up for whatever losses the alleged recent events have incurred. Not to mention, Harvey Weinstein's reputation was one of enormous clout, up until his firing by the company, having been known as an Oscar-whisperer. If Jay-Z were to slot into TWC, however, the clout issue becomes a thing of the past, as he has tons of connections and a lot of people on his side.
Perhaps the greatest advantage of Jay-Z potentially buying out Harvey Weinstein's share of The Weinstein Company is the fact that a person of color would have a pretty powerful position to help Hollywood with becoming a more diverse industry. He and Beyonce are already two of the biggest figures in the music world, so obviously their touch transferring to the world of motion pictures and television would be a good deal. Their eyes for talent and material would only help the studio, which seemed to already be floundering before the allegations of misconduct had hit the news.
The news that TMZ broke from their various sources is all, of course, in early days. But the possibility of a Jay-Z-led buyout is obviously going to spark up some other suitors' interests, as well as some internal discussion of where The Weinstein Company is heading in its tumultuous future. As soon as we hear any new information regarding the possibility of this sale, we'll report back.