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Weinstein Co. Buyers Pull Out of Deal After Raising Questions About Studio’s Financials

National Small Business Week 2016National Small Business Week 2016
Administrator of the U.S. Small Business Administration Maria Contreras-Sweet addresses the audience at the 5th Annual Summit on Entrepreneurship & Innovation on the final day of National Small Business Week 2016 on May 6, 2016 in San Jose. J. Countess—Getty Images for SBA

Maria Contreras-Sweet said her group is pulling out of its deal to buy Weinstein Co. after an examination raised questions about the viability of the film and TV studio.

The group included billionaires Ron Burkle and Len Blavatnik. Contreras-Sweet said she would consider acquiring Weinstein assets if they become available in bankruptcy, according to a statement Tuesday.

Contreras-Sweet, who served as head of the Small Business Administration under President Barack Obama, first made an offer for the studio in November, after a sex-harassment scandal forced co-founder Harvey Weinstein from the company. She’s also looking to buy other entertainment assets.

“I remain committed to working to advance women’s business ownership in all sectors and to inspire girls to envision their futures as leaders of important companies,” she said in the statement.