Buck up, Bob and Harvey! The big, long quiet around the Weinsteins' proposed re-acquisition of Miramax is said to possibly end this week at Cannes, where the brothers and their investors will convene to announce they've struck a deal to take back their pride and joy.
The roughly $650 million deal includes the name and the library -- and leaves an open question as to what happens to the name and library (and upcoming releases, including The Company Men, Blue Valentine, and The Tillman Story) they've built since 2005 at the Weinstein Company. But don't worry about that for now! It's party time! And also, according to our sister site, due-diligence time for Harvey:
[Ron] Burkle is putting up 1/2 the sale price, with the NY hedge fund Fortress-Colbeck footing the rest. The Weinsteins put up no money. [...] Harvey has met his match in Ron Burkle, who has a history of going to court against anyone involved in his financial investments whom he thinks steps out of line. Just ask Mike Ovitz, Anne Hathaway's former fiance, and Barnes & Noble, which Burkle last week sued over a poison pill provision that prevents him from acquiring 20% or more of the book retailer in order to have a say in how it's run.
In short, this is either going to end in a return to the glory days or one of the biggest courtroom train wrecks anyone has ever seen. Ron Burkle Films presents: Pulp Fiction -- 25th Anniversary Adrenaline Shot Edition... that kind of thing. Either way, America wins.
ยท Miramax Deal to Be Announced at Cannes [Deadline]