The Weinstein Company may shut down: Media

New York: The Weinstein Company (TWC) may be preparing for its end, according to media reports. If it does pull the plug, its films and TV shows will be sold off separately.

The 12-year-old mini-major film studio, founded in New York City by the Weinstein brothers might just wrap up in the wake of founder Harvey Weinstein‘s sex assault scandal, PageSix reported.

The embattled film production company's board was looking at either selling to another company or just fading to black and was unlikely to continue as an independent entity, the Wall Street Journal said in its report.

Prospective buyers have already approached board members, it said.

However, the company's co-chair Bob Weinstein, has rejected the report on Friday, saying the company is plowing ahead. The studio originated in 2005, after the Weinsteins left Miramax Films, which they co-founded in 1979.

"Our banks, partners and shareholders are fully supportive of our company and it is untrue that the company or board is exploring a sale or shutdown," the TWC co-chair said Friday in a statement to Deadline Hollywood.