March 1 (Reuters) – A former Obama administration official on Thursday reached a deal to purchase assets of The Weinstein Company and said she will use a majority-female board to rebuild the Hollywood studio tarnished by sexual misconduct allegations.

Former Small Business Administration chief Maria Contreras-Sweet plans to launch a new company, save about 150 jobs, protect the small companies that are owed money, and create a victims’ compensation fund that will supplement existing insurance coverage for those who have been harmed, she said in a statement.

More information: https://www.nasdaq.com/article/weinstein-co-reaches-deal-with-group-promising-female-leadership-20180301-01904