Mirimax sold to construction magnate
30 July, 2010
Walt Disney Company agreed late Thursday to sell Miramax Films to an investor group for about $660 million. The deal ends a laborious six-month bidding process in which the founders of the storied independent film label, the brothers Harvey and Bob Weinstein, fall short in their attempt to regain control. Disney agreed to the sale after a construction magnate, Ronald N. Tutor, and his allies paid a nonrefundable $40 million deposit and presented a financing plan.