Tuesday, March 31, 2020

DISNEY ENDS TALKS WITH WEINSTEINS OVER MIRAMAX

May 25, 2010 by · Leave a Comment 

Just when it appeared that a deal for Harvey and Bob Weinstein to buy back Miramax, the company that they founded, from the Walt Disney Co. was just lacking i’s to dot and t’s to cross, the Wall Street Journal reported today (Tuesday) that the deal had collapsed. Citing people familiar with the matter, the Journal said that it began falling apart last week over “the complex structure of the acquisition.” The Disney Co. had been negotiating exclusively with the Weinsteins and their primary backer, Los Angeles billionaire Ron Burkle, who had reportedly offered $625 million for the studio, whose principal asset is its library. It was presumed that Disney would now reopen negotiations with billionaire brothers Tom and Alec Gores. In March, the Los Angeles Times reported that the Gores were interested in more than just the library and plan to relaunch Miramax as an ongoing production studio.