Bosses at The Motion Picture Association of America initially slapped the documentary with a restrictive R rating, which bans young children from seeing the film without an adult.
The Weinstein Company boss argued that Bully was essential viewing for kids as it raised awareness and should be shown in schools.
A host of stars, including Justin Bieber and Meryl Streep, added their names to a petition aimed at making the censors change their minds and Weinstein subsequently announced he would release the movie, unrated, in a limited number of theatres.
But he has now decided to re-edit a crucial scene, which featured expletives, to land Bully a PG-13 rating, enabling younger teenagers to see the movie.
A statement from the National Association of Theatre Owners reads, "We are pleased the Weinstein Co. respected the rules and processes of the voluntary ratings system by editing and resubmitting Bully in order to receive the PG-13 rating."