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Between the Brothers: No Deal Yet for Miramax

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Apr 16, 2010 | 2:34am EDT

Harvey WeinsteinThe Hollywood Reporter said Thursday that the Weinstein brothers had "managed to fashion a winning bid" for Miramax, but Deadline.com later reported that Disney had responded to the report saying, "No (Miramax) deal done and reports to the contrary are false."

Later on, Deadline said it had heard that the Weinsteins were still bidding and planned sometime Thursday night to submit a new and higher quote in the $615 million range.

That number still has to beat the Gores brothers and the Pangea Media group. But, if it's acceptable, the Weinstein backers will ask Disney for an exclusive negotiating window, said Deadline.

The Wrap had previously reported that the Weinsteins had already negotiated a window of exclusivity with Disney.

The window, as described by The Wrap, would be non-binding, but would give the Miramax founders an opportunity to come to terms with Disney, and win back the studio.

Harvey and Bob Weinstein are backed by billionaire financier Ron Burkle and hedge funds Fortress and Colbeck Capital.

No deal for the sale is expected this week, however.

Story: http://power.networksolutions.com/index.html

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