Filmyard Says No Problem with Miramax Sale

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Filmyard Holdings LLC, the investment group headed by construction magnate Ronald Tutor and Colony Capital Chairman Tom Barrack, said late Thursday that it had sufficient money to complete its $660 million purchase of Miramax Films, despite reports that some investors had dropped out.

“All of the equity required to complete the purchase of Miramax from Disney has been fully committed by Ron Tutor, Colony Capital and Tom Barrack,” the Santa Monica investment group said in a statement. “Recent published reports suggesting otherwise are incorrect.”

In July, Miramax’s owner, Walt Disney Co., accepted Filmyard’s offer after a protracted bidding war that as one point had the boutique studio’s founders, Harvey and Bob Weinstein, rounding up backers to finance a bid to take back the company.

News reports earlier this week said Morgan Creek Productions founder James Robinson, who reportedly had been prepared to put as much as $100 million into the deal, and philanthropist Jerome Swartz, who could have committed up to $50 million, had pulled out of the Filmyard investment group.

Filmyard did not address the departure of any investors in the statement, which said the transaction should close by the end of the year. “All aspects of the transaction are on track,” it said.

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