Sunday, June 13, 2021

WEINSTEINS LOSE BACKER FOR MIRAMAX BID

July 23, 2010 by · Leave a Comment 

Any thread of a chance that Bob and Harvey Weinstein might be able to buy back Miramax studio from Disney appears to have broken with a report from the New York Post that their principal backers, Fortress Investment Group, have pulled out of the negotiations. Citing a source with direct knowledge of the negotiations, the Post said that a deal between Disney and Colony Capital, headed by Tom Barrack, will be announced by next Wednesday. Surprisingly, Colony has agreed to pay $700 million for the studio, well above what other industry figures have said that it’s worth.