Weinstein brothers want Miramax back, talks in progress

The Weinstein Co has held preliminary talks with Miramax Co about a possible deal that could create one of the most powerful independent film players, the Wall Street Journal reported on Saturday.

 

A deal would reunite Weinstein brothers - Harvey and Bob - with Miramax, a company they founded and later sold to Walt Disney Co, which owned Miramax Films until 2010.

 

Quoting an unnamed source, the paper said talks began several weeks ago with a meeting between Weinstein Co Chief Executive Harvey Weinstein and Miramax Chairman Tom Barrack.

 

Barrack confirmed the meeting in an email to the paper, but declined to confirm a potential merger. News of the merger talks was first reported by Variety.

 

The Weinstein brothers left Miramax in 2005 after a contentious relationship with Disney and that year founded the Weinstein Company, best known for its low-budget, critically acclaimed movies, such as Oscar-winner "The King's Speech" in 2010.

 

Disney sold Miramax to Filmyard Holdings LLC, which is backed by Barrack's private-equity firm, Colony Capital LLC, and the Qatari Investment Authority.  — Reuters