Lawyers have said that the settlement to deal with the lawsuits and compensate plaintiffs totals about $44 million (£34.7m).

Mr Weinstein denies having sexually abused or harassed more than 75 women.

He will separately stand trial in New York in June over charges brought by two women, including one of rape.

In October 2017, the New York Times featured a story detailing a series of allegations against Mr Weinstein.

Actresses Ashley Judd and Rose McGowan were among the first to make the accusations.

He issued an apology, saying he had “caused a lot of pain”, though he denied allegations that he had harassed female employees for decades.

As more women came forward, his company Weinstein Co fired him and filed for bankruptcy.

Adam Harris, a lawyer acting for studio co-founder Bob Weinstein, told a judge that “an economic agreement in principle” had been agreed.

He added: “I personally am very optimistic.”