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Harvey Weinstein’s Studio Pays $25 Million in the Settlement for Sexual Abuse

Harvey Weinstein’s co-founded film studio is likely to pay around $25 million for the settlement of sexual abuse charges from nearly 70 women employees on December 11, 2019.

Harvey has been accused of several offenses including sexual harassment and rape of his former employees for more than a decade, and his studio’s executive members are likely to pay $25 million out of the total settlement of $47 million.

Harvey Weinstein and his Film Production Company

Harvey and his brother, Bob Weinstein, founded Miramax Films, in Los Angeles, California in 1979. Miramax was a leading producer and distributor of motion-picture Hollywood movies in the 1990s. After the company was acquired by The Walt Disney Co. on September 30, 2005, the Weinstein brothers started a new studio called, The Weinstein Company (TWC).

The new company, TWC remains defunct since August 4, 2018, after it faced bankruptcy because of facing financial troubles in February 2018. It had been a successful Hollywood film production company, which was once recognized for blockbuster movies such as Pulp Fiction, Shakespeare in Love, The King’s Speech, and Inglorious Bastards.

In October 2017, Harvey was accused of sexual harassment by hundreds of women, who started the #MeToo movement. The court trial for the charges against him would be held on January 6, 2020.

Settlement of Harvey’s Sexual Charges

According to the New York Times, “The board of his defunct film studio would fund the payout, and Weinstein would not be required to admit wrongdoing or to pay anything.” He has already denied the sexual abuse allegations and claimed that all and any intercourse were under mutual consensus.

As Times concluded, Wednesday’s settlement would bring an end of all lawsuits against Harvey. According to the Times, “Accusers involved in the tentative accord would make their claims in bankruptcy court, and the $25 million payouts would be part of a $47 million settlement to close out the studio’s obligations.”

Some victims condemn the settlement, as it provides very little compensation. According to Weinstein’s lawyers, Doug Wigdor and Kevin Mintzer, “The accord would pay too much to lawyers and too little to victims, and might excuse the studio’s insurers and board from liability to victims who choose not to participate.”

Both have stated, “While we don’t begrudge victims who want to settle, we plan to vigorously object to any provision that tries to bind victims who want to proceed with holding Harvey Weinstein accountable for his actions.”

Hello, I’m Anna Yeo. If you like my news coverage, please drop a good word in my inbox. I’m journalist by profession and have been part of many major reporting across the globe. I like to write crisp and factual news. I have completed my masters degree in journalism. Feel free to contact me at [email protected]

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