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Disney Entertains 3 Bids For Miramax

Los Angeles Times, Wednesday, April 7, 2010 9:19 PM

Walt Disney Co. has received three bids for the specialty label Miramax Films, sources say. They are: supermarket magnate Ron Burkle and his Yucaipa Cos. in association with Bob and Harvey Weinstein, the founders of Miramax. Also, Alec and Tom Gores, who run separate investment firms, the Gores Group and Platinum Equity. Their sibling Sam Gores, founder of Paradigm talent agency. Finally, financier David Bergstein, who, through his firm Pangea Media Group, is the highest bidder, per sources.

Disney was initially seeking an all-cash deal of $650 million to $700 million. Summit Entertainment and Amir Malin's investment firm Qualia Capital early on weighed making bids, but balked at the asking price. Early this year, in a cost-saving move, Disney shut down the independent film unit's New York and Los Angeles offices and let go dozens of staffers.

Read the whole story at Los Angeles Times »

deals, movies

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