According to TMZ, the deal struck on Wednesday, December 10, means the shamed film producer will not be required to admit any wrongdoing or pay anything to his accusers himself. Insurance companies representing The Weinstein Company will pay the full amount.
The settlement also means that all civil suits against Weinstein and The Weinstein Company will get dismissed.
A judge still has to approve the settlement.
Over 30 women accused Weinstein of a number of allegations ranging from sexual harassment to rape. The alleged victims will share the $25 million payout, with 18 alleged victims splitting $6.2 million and no individual getting more than $500k.
There's a separate $18.5 million that will be set aside for those in a class-action case and future claimants.
According to The New York Times, the total payout is actually $47 million, with a huge amount covering legal costs.
Genie Harrison, a lawyer for one of the victims, told The New York Times, "I don’t think there’s a markedly better deal to be made. We have really, truly done the best we can under the circumstances, and it’s important for other victims to know this, come forward and be able to get the best level of compensation we were able to get."
Meanwhile, Weinstein is still slated to go on trial in January on charges of sexual assault involving two women.
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