Disney had been negotiating the $625 million offer made by the Weinsteins and financial backers Ron Burkle, Fortress Investment Group and Colbeck Capital, which would return Miramax Films to its original owners. However, Disney has opened up discussions with other bidders, which includes Alec and Tom Gores. Initially, the Gores brothers reportedly made a bid for Miramax of $600 million. Meanwhile, the Gores brothers are also on tap to acquire Overture Films, which includes Anchor Bay Entertainment, from Liberty Media for $300 million.
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.