The future of Project Runway hangs in the balance following sexual misconduct allegations levelled against Harvey Weinstein.
The Weinstein Co. owns Project Runway and its spinoffs, Project Runway All Stars and Project Runway: Junior.
In 2016 A+E Networks announced a 3 season renewal of Project Runway, of which one season has run on Lifetime. But in January it cancelled the deal citing Weinstein’s sexual misconduct constituted a breach of their agreement. Weinstein has been also been accused of using his connection to Project Runway and to the fashion industry to gain access to young models.
With The Weinstein Co. filing for bankruptcy, Project Runway becomes one of its key assets.
A+E is now in negotiations with Lantern Capital to buy the show outright. Lantern has bid $310 million, plus some debt assumption, for the bulk of the Weinstein assets. 23 bidders have expressed interest in buying certain assets from the studio.