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Harvey Weinstein in Limbo After Emergency Meeting of Weinstein Company Board

TheWrap logo TheWrap 10/6/2017 Thom Geier

(Video provided by CBS)

Harvey Weinstein's status with The Weinstein Company remains in limbo Friday morning after the privately held firm's board of directors held an emergency meeting late Thursday night to discuss the fate of the co-CEO in the aftermath of explosive sexual harassment allegations.

A spokesperson for TWC had no comment on the outcome of the board's deliberations.

Harvey Weinstein © TheWrap Harvey Weinstein On Thursday, Weinstein announced he would take a leave of absence from TWC shortly after The New York Times reported that he had paid eight women over a 30-year period to cover up sexual misconduct.

That leaves the 12-year-old film and TV company at least temporarily in the hands of Weinstein's brother and co-CEO, Bob, and COO/President David Glasser, who first joined TWC in 2008.

According to an individual familiar with the situation, senior TWC executives including Harvey's brother, Bob, were "floored" by many of the details in The New York Times story -- including actress Ashley Judd's claims that Harvey had sexually propositioned her two decades ago.

Judd told the Times that Weinstein asked to massage her in a hotel room and pressured her to watch him shower during a meeting two decades ago.

While many believed Weinstein strayed outside his marriages, the individual told TheWrap, senior executives were not aware of the many payoffs to make allegations of sexual harassment go away.

Weinstein's lawyers also told the board there had been "eight to 12" settlements over the years and that Weinstein himself had made the payments, the insider said. The New York Times only cited eight payoffs, with women generally receiving between $80,000 and $150,000.

According to the individual, the new details that emerged in the Times piece did not sit well with the privately held company's board, whose members include:

Lance Maerov, SVP of corporate development at WPP Group USATim Sarnoff, Deputy CEO at TechnicolorDirk Ziff, Managing Partner at Ziff Capital Partners. Also owner of World Surf League and on the board of the Rock and Roll Hall of FameMarc Lasry, owner of Milwaukee Bucks and CEO of Avenue Capital GroupTarak Ben Ammar, owner of French distributor Quinta CommunicationsPaul Tudor Jones, founder of The Tudor Group

The mogul himself was said to be very combative and resisting the charges despite making a public apology, and saying he wanted to sue the Times.

Harvey and Bob Weinstein co-founded the indie film company Miramax in 1979 and grew it into a powerhouse brand that made art-house films mainstream -- and reshaped the Academy Awards race with aggressive marketing and buzz.

The company was bought by Disney in 1993, where the brothers continued to run the company -- and dominate the Oscar race -- until they left in 2005 to launch the new privately held The Weinstein Company. The brothers have a 44 percent stake in the firm, according to the Times.


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