As the saga continues to unfold with mounting allegations of sexual harassment and sexual assault against Harvey Weinstein, attention is being turned towards the fate of the company he helped build now that he has been ousted. TMZ reported that Jay Z wants a bigger piece of the pie. The rapper and mogul has partnered with a group of investors to buy the fallen Hollywood heavyweight’s 23 percent stake in the Weinstein Company (TWC).
Jay Z currently has a first-look deal with TWC where he teamed up with Weinstein to produce the six-part Starz and Netflix series Time: The Kalief Browder Story. A series on Trayvon Martin, an unarmed teen who was murdered by George Zimmerman, is set to begin production soon. The yet-to-be-identified members of the investment group reportedly include a billionaire as well as a very well-known movie producer. Closing this deal would be a game changer in television and film. Jay Z would have the opportunity to control who gets to tell our stories and how our stories are told.
Harvey and his brother Bob, who founded Academy Award-winning Miramax Films in 1979, launched TWC in October 2005. The company produces and distributes both film and television projects which include blockbusters like Django Unchained, Lee Daniels’ The Butler, and the “Project Runway” television franchise. Harvey’s departure leaves a huge void that TWC needs to fill quickly.
On Thursday morning, Harvey Weinstein broke his silence saying that he and his wife have separated. He is checking into a sex rehab facility in Arizona for treatment. But more trouble looms for the entertainment mogul as Fox Business reported that the U.S. Justice Department has ordered the FBI to launch an investigation into Weinstein which could mean even more trouble for TWC.
“…We discussed the possibility of a separation and I encouraged her to do what was in her heart. In the end, she made the decision to separate,” Weinstein said in a statement.
They say that success is where opportunity meets preparation. Assuming that’s true, Jay Z is standing at the intersection. If he pulls this off, the Hollywood game will never be the same. Talk about a takeover.
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