Disney, Miramax, Filmyard deal deadline October?

27 August, 2010

Michelle Williams filming Toronto

Michelle Williams filming Toronto

The deadline will most likely fall in early October rather between September and year’s end, although Filmyard says it expects to close the deal then.

Some of the banks Filmyard is relying on to provide $250 million to $275 ­million in debt financing are balking at the $650 valuation that was put on Miramax.

Insiders say the figure is high, given that the Weinsteins, who sold Miramax to Disney in 1993, control the sequel rights to 16 Miramax films. This means that even if Filmyard does line up the dough, it could be hamstrung in terms of getting the most bang for its buck. more

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