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Disney Sells Miramax For $660 MILLION!

Filed under: Film FlickersDisneyBusiness Blitz

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It's a done deal!

Disney announced yesterday that they have sold Miramax Films to Filmyard Holdings LLC - and its partners Ron Tutor and Tom Barrack - for a whopping $660 million!

The deal should go through sometime between September and January of 2011.

Disney President and CEO Bob Iger says:

"Although we are very proud of Miramax's many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands. We are delighted that we have found a home for the Miramax brand and Miramax's very highly regarded motion picture library.”

And Ron Tutor elaborates:

“I am delighted and honored to acquire the Miramax library. On behalf of my partners Tom Barrack and Colony Capital, we look forward to sharing this high quality content with the world in every form of media for many years to come.”

Big switch up! We wonder what this will mean for Miramax and its current employees!

What do U think??

[Image via WENN.]

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Rob Lowe Vs. The IRS

Filed under: Rob Lowe

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The IRS has filed a $269,965 tax lien against former West Wing star Rob Lowe and his wife Sheryl Berkoff. That’s right, Rob, even aspiring movie moguls have to pay their taxes.

Here’s what Rob’s publicist Alan Nierob had to say on the subject:

“I checked with my client and he knows nothing whatsoever about this and has not been contacted by anyone in reference to this matter.”

We still are laughing at you believe in you, Rob! Taxes are for losers anyway.

[Image via WENN.]

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Disney Finally Agrees To Sell Miramax?

Filed under: DisneyBusiness Blitz

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Looks like Disney may have finally reached a deal to sell Miramax.

The winning bidder goes to Los Angeles billionaire Ronald Tutor and his partners Morgan Creek, Colony Capital, and David Bergstein for a whopping $675 billion.

An insider says that "the deal is not done, but it's going to get done. We've agreed in principle."

Sources say that the deal will be complete by the end of July, which means Harvey Weinstein and his brother Bob will again be losing the company that they co-founded.

Disney apparently was looking for a higher selling price, but with Miramax going out of business last year, they've relied on selling the company's extensive movie library.

It seems like Disney just wants to finally end the deal and count their losses!

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Rob Lowe And Co. Buying Miramax Films?

Filed under: Rob Lowe

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Looks like Rob Lowe's time away from the big screen has lead him in to some new endeavors. And we're not talking about his memoir hes been writing.

Feast your eyes one on the new owners of Miramax Films, so long as the deal gets closed today.

Sources report that Lowe and Tom Barrack have teamed up with Flavio Briatore and Giuseppe Cipriani (owner Cipriani's restaurant) to create "a multi-platform media company, similar to DreamWorks."

We wonder what movies this joke of a dream team will come up with??

[Image via WENN.]

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Disney Calls Off Miramax Deal!

Filed under: Film FlickersDisneyBusiness Blitz

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After all that?!

The Walt Disney Co. has called off talks to sell Miramax to billionaire Ron Burkle for $625 million.

The deal would have also had the Weinstein brothers regain control of the movie division, but talks came to a halt after questions were raised about how The Weinstein Co. would benefit from the new arrangement and how they could manage both movie studios.

Now another set of billionaire brothers Alec and Tom Gores are in negotiations to acquire Miramax.

But that could fall through, too — we'll have to see what happens!

[Image via WENN.]

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