On January 28th, the Miramax s**t hit the fan -- right after rumors bubbled that Harvey and Bob Weinstein wanted to buy Miramax back from Disney, news hit that the Mouse House was shutting the studio down. Just a few days later, a group of bidders started vying for the rights of the studio's 600+ films and "Miramax" name. While initial reports didn't see a Harvey or Bob in sight, ultimately, the brothers were successful. According to The Hollywood Reporter, the Weinsteins offered the winning bid for the company named after their parents.
What was once sold to Disney for $80 million was bought back for $600 million. Talk about an expensive buy-back ... but at least it's less than half the amount Bob Iger was hoping to sell the studio for ($1.5 billion). Obviously, Harvey and Bob don't have over half a billion dollars laying around. They're actually teaming with billionaire Ron Burkle and other investors to regain control, so it's not really theirs. They will run it, but Burkle and the other backers will be the owners. However, seeing that none of the money guys are big movie peeps, it should be a much more beneficial scenario to the Weinsteins than battling with Disney.
For a contrary opinion, The Wrap's sources say that there is no deal, just a "window of exclusivity," although a deal could happen in the next day or two.
$600 million or more ... Think it's worth it? And any guesses on what properties hit the remake/sequel pile and get re-released discs to help make up for the investment?