Despite a late inning offer that never officially made it to court, the sale of The Weinstein Co. to investment group Lantern Capital for $310 million was approved by U.S. Bankruptcy Court on May 8.

The Weinstein Co., rocked by a horrific sexual harassment scandal involving its co-founder and former CEO Harvey Weinstein, filed for Chapter 11 bankruptcy protection in March.  At the time, Lantern Capital, a unit of Texas-based investment firm Lantern Asset Management had made a stalking horse bid for the company. While another bidder – Inclusion Media, headed by Broadway producer Howard Kagan – planned to make a $315 million offer, including $30 million set aside for a victims fund for women sexually assaulted and harassed by Harvey Weinstein, that bid was never formally made to the court, according to reports. The Lantern Capital bid, which involved $310 million in cash and the assumption of about $125 million in debt, was approved by The Weinstein Co. board in early May as superior to the Inclusion Media. 

Just what the new owners will do with the studio, producers of cable reality hits like Project Runway, remains to be seen. Lantern Capital is run by Andy Mitchell and Milos Brajovic, who have pledged to bring the studio back to its heyday, when it was one of the top independent film producers in the country. Lantern’s portfolio is decidedly absent entertainment investments – its biggest holdings are American Zinc Recycling, Roundtree Asset Management (a vehicle for rolling up underperforming car dealerships across the country), bulk shipping platform Good Bulk and North Carolina luxury resort Bright’s Creek.

An Amazon Studios TV project produced by The Weinstein Co., from David O. Russell and starring Robert De Niro and Julianne Moore, will not continue in light of Harvey Weinstein’s sexual harassment imbroglio.

The project did not have a title and had not begun production. A statement from Russell, De Niro and Moore said the pricey series would not move forward elsewhere.

Related: Weinstein TV Production Business Shaken Amid Harassment Scandal

“We support Amazon’s decision as, in light of recent news and out of respect for all those affected, we have decided together that it is best to not move forward with this show,” the three said in the joint statement.

Weinstein was fired last week and, over the weekend, was ousted from the Motion Pictures Academy of Arts and Sciences. Separately, Amazon Studios chief Roy Price was suspended indefinitely last week over a sexual harassment allegation.

Not much is known about the Russell project, a drama. Amazon reportedly had signed on for two seasons at $160 million.

Amazon is moving forward with another Weinstein Co. TV project, The Romanoffs, without the involvement of Harvey Weinstein. Matthew Weiner is behind that drama.

Weinstein was cofounder of The Weinstein Co., with his brother Bob, and had served as co-chairman.