Photo: Mathew Imaging (WireImage via Getty Images)

They built first Miramax, then the Weinstein Company together. But now, in the wake of Harvey Weinstein’s ongoing public reckoning for his alleged sexual crimes, the Weinstein Company is being sold, and Weinstein’s brother Bob is also stepping down from his position on the company’s board of directors.

As we reported earlier, Weinstein Company is being sold to Lantern Capital Partners, a group which specializes in failing auto dealerships, among other decidedly non-Hollywood business investments. According to The New York Times, that sale is being completed today, the same day Bob Weinstein and two other board members are stepping down from the company. The non-allegedly-sexual-assaulting half of the Weinstein brothers had reportedly been trying to retain his position and involvement in the company, but—for reasons that are presumably PR-related and all too obvious—others apparently felt that wasn’t going to fly. “In the face of intense public scrutiny, this board steered the company to an orderly sale and maximized value,” sole remaining board member Ivona Smith said in a statement. No further explanation was given, and Bob Weinstein has not commented publicly on the decision.

Advertisement

Meanwhile, Harvey Weinstein pleaded not guilty this week to felony charges that could put him away for life, including rape, criminal sexual assault, and predatory sexual assault.