Update: But wait! According a source who spoke with the Hollywood Reporter, reports of a dead deal in both the L.A. Times and the New York Times are “100% not true. They are still trying to wrap up the deal. It is just taking longer than people want it to.”
The L.A. Times reports that Harvey and Bob Weinstein’s $625 million Ron Burke—backed bid to reclaim Miramax from Disney has fallen apart after weeks of back-and-forth. The deal — whose completion the Weinsteins had hoped to announce this week at Cannes — was allegedly undone by “complications over how Miramax would be integrated into their existing company, The Weinstein Co., and other final points that couldn’t be resolved.” The LAT says Disney, which has been in exclusive talks with the Weinsteins since April, is now expected to re-approach investors Alec, Tom, and Sam Gores about buying the studio. Developing!
Weinsteins’ deal to reclaim Miramax falls apart [Company Town/LAT]