The company said Monday that it is getting an immediate cash infusion from Colony Capital and is in negotiations for the potential sale of all or a significant portion of the movie studio responsible for films like "Shakespeare in Love," and "Gangs of New York."
Co-founder Harvey Weinstein was fired by the company last week following allegations of sexual harassment and assault. The allegations span decades.
The fallout has been swift, with Weinstein issuing a lengthy and seemingly tone-deaf apology while losing various honors. The Academy of Motion Picture Arts and Sciences has revoked his membership.