Weinsteins, Burkle continue exclusive talks with Disney

Wed Apr 21, 2010 10:01pm EDT
 
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By Sue Zeidler

LOS ANGELES (Reuters) - Film moguls Bob and Harvey Weinstein and backer billionaire Ron Burkle continued talks for the purchase of Walt Disney Co's Miramax Films on Wednesday and a deal could be reached within days, said one source familiar with the discussions.

The source said a deal was expected within the next "24 to 48 hours."

Three other sources with knowledge of the Miramax talks said on Wednesday that an exclusive negotiating window between Disney and the team comprising the Weinsteins and financial backer Burkle's Yucaipa Cos had been extended beyond its original five day timeframe.

A dispute between Weinstein Co shareholder Mark Cuban and the Weinsteins also came to light on Wednesday, but a source familiar with the situation said Cuban's issues would not interfere with the proposed acquisition.

Cuban was not available for comment.

Earlier on Wednesday Bloomberg reported that Cuban may try to stop the Weinsteins from participating in a buyout of Miramax.

The Weinstein board issued a statement late on Wednesday.

"On behalf of the Weinstein Co and the board of directors I am going on record to say that we couldn't be more excited about the possibility of The Weinstein Co being in business with Ron Burkle, Fortress and the possibility of an acquisition of Miramax," said Richard Koenigsberg, board member of the Weinstein Co in a statement.   Continued...

 
<p>Film producer and Miramax Films co-founder Harvey Weinstein arrives with his with wife, Georgina Chapman, at the 82nd Academy Awards in Hollywood, March 7, 2010. REUTERS/Brian Snyder</p>