Walt Disney Co. has been quietly shopping what remains of its Miramax film unit and has attracted seven to 10 interested bidders, according to a mergers and acquisitions expert with knowledge of the process.
The initial discussions indicate a price of over $700 million for the Miramax name and its 700-film library, including films like “Pulp Fiction” and “Shakespeare in Love,” which is essentially all that remains of the once-mighty art house label. Interest is sharply higher than a year ago, when Disney briefly floated a Miramax sale before reconsidering because of the recession, and has been helped by a loosening of the credit markets.
Harvey Weinstein and Bob Weinstein, who founded Miramax in 1979, are not among the bidders — so far. The Weinstein brothers sold Miramax to Disney in 1993 but ran it until 2005, when they left to found the Weinstein Company.
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