Details of Lantern Capital Partners’ stalking-horse bid to buy Bob and Harvey Weinstein’s namesake film studio came into focus early Tuesday, just hours after The Weinstein Co. filed for Chapter 11 bankruptcy protection in Delaware.
According to court documents, the Dallas-based private equity firm is offering to take on some of the debt left by the production company—which was plunged into dire financial straits in the wake of serial revelations about Harvey Weinstein’s sexual misconduct—and pay $310 million in cash to acquire its legacy assets, which include a television business and library of 277 films. The studio said in the filings that it expects to see $151 million in net cash flows for its catalog of movies in 2018, and revenue for its TV division is projected to hit $255 million.
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