Last-minute deal saves Weinstein Company

The Weinstein Company has staved off bankruptcy with a last-minute sale to a group of investors who want to transform the scandal-plagued film studio into a female-led entertainment venture.

The swift reversal of fortunes for the company, founded by shamed Hollywood mogul Harvey Weinstein, includes a commitment from the buyers to establish a compensation fund of up to $90million (£65million) for Weinstein’s accusers.

Weinstein has denied all allegations of assault.