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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...