The decision was reached on Saturday in an emergency session. It comes after recent reports that revealed sexual harassment and rape allegations against Weinstein going back decades. The move by the Academy is virtually unprecedented.
The Academy is the world's top movie organisation and is home to the Oscars.
In a brief statement, the Academy said it sends a message that "sexually predatory behavior" in the film industry is over.
"The Academy of Motion Picture Arts and Sciences Board of Governors met today to discuss the allegations against Harvey Weinstein, and has voted well in excess of the required two-thirds majority to immediately expel him from the Academy. We do so not simply to separate ourselves from someone who does not merit the respect of his colleagues but also to send a message that the era of willful ignorance and shameful complicity in sexually predatory behaviour and workplace harassment in our industry is over. What's at issue here is a deeply troubling problem that has no place in our society. The Board continues to work to establish ethical standards of conduct that all Academy members will be expected to exemplify."
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