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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of