Industry eyes are focused on brothers Harvey & Bob Weinstein, The Walt Disney Company and Miramax Films in the wake of reports that Disney is close to finalizing a sale of its effectively dormant specialty brand. The Weinsteins have emerged as a lead contender for the company they founded more than thirty years ago and named after their parents, Miriam and Max Weinstein.
Conflicting media reports emerged late Thursday, however, about Disney's $600+ million sale of Miramax and a Weinstein rep contacted by indieWIRE declined comment on the reports.
"It seems the Weinstein brothers have fashioned a winning bid for Miramax Films," the Hollywood Reporter indicated last night, under the headline, "Weinsteins to take back Miramax." HR reported that the label would be sold to Ron Burkle's Yucaipa Group, backed by a hedge fund duo and run by the Weinsteins, according to the article. The piece also said that a Disney rep denied that a deal had been reached.
Another pair of brothers, Tom and Alec Gores are also bidding to buy Miramax from Disney.
While a deal is not in place, the Weinsteins are the frontrunners for a pact, according to The Wrap. "The Weinstein Company has negotiated a window of exclusivity with The Walt Disney Company to try to finalize a deal to buy Miramax," TW said late Thursday.
The coverage is fueling considerable coverage online with many sites saying that the Weinstein's and their backers have won Disney's auction of the Miramax name and library. Insiders expect that a definitive announcement resolving the matter could be coming soon