According to THR, the Weinsteins are close to a winning bid in the Miramax auction and could take back operating control of the arthouse studio they founded in 1979, then sold to Disney for $80 million in 1993.
Disney’s recently shuttered niche division boasts a 611-title film library. Miramax founders Harvey and Bob Weinstein have apparently put together an offer of about $600 million, looking to top bids from rival suitors.
Harvey and Bob Weinstein’s partners include billionaire Ron Burkle’s Yucaipa group, along with two hedge funds, the group of which would actually own Miramax, while giving the Weinsteins control of its daily operations.
According to the report, there’s been no official word yet from Disney, whose legal team is going over the financial details submitted by the Weinsteins this week.