Miramax deal close?

Thu Jul 8 2010 10:44

A deal to buy Miramax could be close for Ron Tutor, reports have suggested.

Film software could soon be in use at Miramax studios under a new owner, according to reports.

Construction executive Ron Tutor and the investment firm Colony Capital are expected to seal a deal to buy Walt Disney's Miramax for up to $700 million (£461 million) in the near future, unnamed sources have suggested.

It is believed that Miramax, whose films include The English Patient, Pulp Fiction and Shakespeare in Love, could be sold within a week if a deal is struck.

It has recently been reported by TMZ that Los Angeles-based Colony, led by chairman and chief executive Tom Barrack were looking to create "a multi-platform media company, similar to DreamWorks", which would see actor Rob Lowe becoming a co-owner of the indie production company.

Disney ended talks in May to sell Miramax to - the studios founders - the Weinstein brothers and Ron Burkle for $625 million.