Weinsteins Closing in On Miramax

by eug
April 12, 2010 5:27 AM
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In what would be a dramatic deal, brothers Harvey and Bob Weinstein are in the lead to buy back Miramax Films from Disney, the Hollywood studio that bought the specialtyy division from them back in the mid-90s. The brothers, who met with Disney CEO Bob Iger over the weekend, according to The Wrap, would pay $600 million cash for the company.

"There are two other bidders in the process, Alec and Tom Gores from Platinum Equity, and the beleaguered financier David Bergstein with a Saudi investor and Deutsche Bank. Bergstein's offer is believed to be higher than TWC's, but the Gores' bid was all cash," according to The Wrap, "But even those bidders now believe that Weinstein has moved into the lead position to acquire the arthouse company that Harvey and Bob Weinstein founded three decades ago."

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