According to The Hollywood Reporter, it seems that Bob and Harvey Weinstein have put together a winning bid in the Miramax Films auction. This will allow the brothers to take back operating control of the company that they founded in 1979 and later sold to Disney for $80 million in 1993.
For months Disney has been soliciting offers for the recently closed specialty-film unit and its 611-title library.
Harvey and Bob Weinstein put together an offer of $600 million or so, with their goal to top bids from such rivals as businessmen Alec and Tom Gores and a more controversial one from Hollywood tycoon David Bergstein.
Backing the Weinsteins is Burkle's Yucaipa group, and hedge funds Fortress and Colbeck Capital. As it stands, Burkle and friends will be the official buyers, however the Weinsteins will effectively run the operation.
There is no word yet on when an official announcement will be made. Disney lawyers are still going over the financial details given by the Weinsteins on Thursday.
"No deal has been reached," stated a Disney spokesperson on Thursday night.