Hollywood film mogul Harvey Weinstein has reached a tentative deal worth about $44 million with women who have accused him of sexual misconduct, it is understood.
He is said to be close to settling lawsuits brought against the television and film company co-founded by Weinstein.
Lawyers involved in the negotiations told a federal bankruptcy court judge during a hearing in Wilmington, Delaware, on Thursday that a breakthrough in a still-unfinished mediation had put a settlement within reach.
The amount of the deal was not revealed in court, but it's understood be about $44m (£35 million).
Weinstein has strenuously denied the allegations.
“We now have an economic agreement in principal that is supported by the plaintiffs, the (New York attorney general’s) office, the defendants and all of the insurers that, if approved, would provide significant compensation to victims, creditors and the estate and allow the parties to avoid years of costly, time consuming and uncertain litigation on all sides,” said Adam Harris, a lawyer for studio co-founder Bob Weinstein.
He cautioned that there was still “a lot of work here to do” but added that he was "very optimistic”.
The size of the settlement was first reported by The Wall Street Journal.
More than 15 lawsuits have been filed accusing Harvey Weinstein or the company of misconduct.
The settlement would cover many of them, including a class action by alleged victims and a suit by the New York attorney general. Any settlement would need to be approved by the courts.
The scandal forced the studio into bankruptcy.
Harvey Weinstein also faces criminal charges of rape and performing a forcible sex act.
He denies all allegations of non-consensual sex.