Burkle, Weinsteins Say They're Working on Accord to Buy Disney's Miramax
Yucaipa was near an agreement to acquire Miramax for $625 million last month, two people with knowledge of the discussions said at the time. The Weinsteins are seeking to regain control of the independent film company they founded and named after their parents. The Los Angeles Times reported earlier today that talks with Disney had broken down. The New York Times reported that the Weinsteins had failed to complete the deal.
The filmmaking brothers, their Weinstein Co. and Burkle are involved in the discussions, Burkle said today.
Disney gained 88 cents to $32.87 today in New York Stock Exchange composite trading. The shares have added 1.9 percent this year.
Jonathan Friedland, a spokesman for Burbank, California- based Disney, declined to comment on the earlier reports that the deal was off.