Fortress Backing Bid For Movie Studio Miramax

Apr 21 2010 | 2:24am ET

Miramax Films may soon be back in the hands of its founders, with an assist from Fortress Investment Group.

The New York-based alternative investments giant is reportedly backing a $625 million bid for the studio from Bob and Harvey Weinstein, who founded the company in 1978 and sold it to Disney in 1993.

The duo, who left Miramax in 2005 to found another studio, the Weinstein Co., are in exclusive talks with Disney about reacquiring the studio and its back catalog, including such classics as “Pulp Fiction,” “The English Patient” and “Good Will Hunting.”

Disney has all but shut down new production at the studio, last year announcing plans to cut 70% of its staff and move Miramax from New York to Burbank, Calif.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...