Bob Weinstein

Investor group cancels deal to buy Weinstein Co.

A group of investors pulled out of a deal to buy the beleaguered Weinstein Co. on Tuesday after discovering tens of millions of dollars in undisclosed debt, according to people familiar with the negotiations.

Businesswoman Maria Contreras-Sweet, who has been leading the group of buyers along with billionaire investor Ron Burkle, said in a statement that "disappointing information about the viability of completing this transaction" had led her to call off the sale.

She didn't offer further details. But two people familiar with the proceedings said the buyers came across documents showing liabilities beyond the $225 million the buyers had been prepared to take on....

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