According to various press reports, Bob and Harvey Weinstein are closing in on a deal to buy back Miramax. In fact, according to the New York Times, the brothers and their financial backer Ron Burkle have secured an exclusive negotiating window with Disney, during which they’ll try to come to terms.
The Weinsteins founded Miramax in 1979, sold it to Disney in 1993, and left in 2005 to form The Weinstein Company.
The Weinsteins have reportedly offered Disney around $625 million for the studio, but Disney may retain certain titles from Miramax’s library, according to the Wall Street Journal. It’s also not clear yet if the deal would include the studio’s remaining unreleased films and other home-video assets.
A rep for the Weinstein company had no comment. Reps for Disney were not immediately available.
Miramax’s films in the last several years have been critical darlings, including Oscar winners No Country for Old Men and There Will Be Blood, but none has been a major financial success.
The Weinsteins aren’t the only bidders for the studio, though: Alec and Tom Gores and David Bergstein have also made offers. It’s not clear yet how quickly Disney wants to close the deal.