Sunday, 28 December 2014
Last updated 3 days ago
May 11 2010 | 4:30pm ET
The Fortress Investment Group-backed deal for movie studio Miramax Films will be announced at the Cannes Film Festival.
Miramax founders Bob and Harvey Weinstein, who are leading the group that seeking to buy the studio from Disney, will use the famed film festival in the south of France to announce that the purchase. The Weinsteins sold Miramax to Disney in 1993 and left the studio, which they founded in New York in 1978, in 2005.
The Weinsteins say that exclusive negotiations are still ongoing. But media reports indicate that an agreement has been reached to sell Miramax for about $650 million. Fortress is putting up half of that money, with billionaire Ronald Burkle putting up the rest. The Weinsteins are contributing no cash to the deal.
The Cannes Film Festival will be held from May 12 through May 23.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.