The Weinsteins and their backers have said they are still “working towards a deal to purchase and operate Miramax.”
The announcement came in response to reports of a breakdown in talks between Harvey and Bob Weinstein and current Miramax owner the Walt Disney Company.
The Weinsteins and financial backers including Ron Burkle’s Yucaipa Companies have been in talks with Disney for a month trying to finalise a deal for Miramax, the pioneering independent which the Weinsteins founded and sold to Disney in 1993. Disney had chosen the Weinstein bid of a reported $625m over other offers and entered into exclusive negotiations with the brothers and their partners.
On Friday (May 21) the New York Times and the Los Angeles Times separately reported that the talks had broken down. But in a joint statement Harvey Weinstein and Ron Burkle said: “The Weinstein Brothers, The Weinstein Company and Ron Burkle are all working towards a deal to purchase and operate Miramax. The parties continue to work diligently towards an agreement.”
Disney has declined to comment on the reports.
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