Disney Co. is weighing three offers for Miramax Films. The company could decide not to accept them.
One: Supermarket magnate Ron Burkle's Yucaipa, in cahoots with Miramax-founders Bob and Harvey Weinstein.
Two: Alec and Tom Gores of investment firms the Gores Group and Platinum Equity, advised by Sam Gores, founder of Paradigm talent agency.
Three: Astonishingly, beleaguered financier David Bergstein's Pangea Media Group, reportedly the highest bid of the three, according to the LAT:
Disney was initially seeking an all-cash deal of $650 million to $700 million, people close to the matter said. Summit Entertainment and Amir Malin's investment firm Qualia Capital early on weighed making bids but balked at the asking price.
I'm rooting for the Weinsteins. They built the library, own some sequel rights, and would know how to handle the material. Anyone else will basically pillage and plunder the properties. Selling to the irresponsible Bergstein would be absurd.
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