April 18, 2010
April 16, 2010

BETWEEN THE BROTHERS: NO DEAL YET FOR MIRAMAX; (DH, THR, TW)

By Nancy Tartaglione

The Hollywood Reporter said yesterday that the Weinstein brothers had "managed to fashion a winning bid," for Miramax, but Deadline.com later reported that Disney had responded to the report saying , "No (Miramax) deal done and reports to the contrary are false". Later on, Deadline said it had heard that the Weinsteins were still bidding and planned sometime last night to submit a new and higher quote in the $615 million range.

That number still has to beat the Gores brothers and the Pangea Media group. But, if it's acceptable, the Weinstein backers will ask Disney for an exclusive negotiating window, said Deadline.

The Wrap had previously reported that the Weinsteins had already negotiated a window of exclusivity with Disney.

The window, as described by The Wrap, would be non-binding, but would give the Miramax founders an opportunity to come to terms with Disney, and win back the studio.

Harvey and Bob Weinstein are backed by billionaire financier Ron Burkle and hedge funds Fortress and Colbeck Capital.

No deal for the sale is expected this week, however.

Related Links

Miramax Auction Still On; Disney Denies Hollywood Reporter Alert (DH)
Weinsteins to take back Miramax (THR)
Exclusive: The Weinsteins Negotiate Window to Buy Miramax (TW)




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