Rob Lowe In A Bid To Buy Miramax Films
July 8th, 2010 - 8:35 pm ICT by Pen Men At Work
July 8, 2010 (Pen Men at Work): Hollywood actor Rob Lowe is to expand his entrepreneur side as he is said be involved in buying the Miramax Films with the real estate investment firm Colony Capital of Tom Barrack.
The Colony Capital is one of the bidders for the production company Miramax Films, which has given films like No Country for Old Men and The Queen.
According to an insider, “It is fixed that Lowe’s friend in Colony will be bidding for the production company and his views and ideas matter a lot to them.”
The talks among the co-founder of Miramax, Harvey and Bob Weinstein, is going to conclude very soon. It is reported that Colony has considered placing a bid in the range of $600 million and $700 million for buying the Miramax Films. Earlier, the bid was supposed be near $550 million.
Lowe and Barrack are supposed to convert Miramax into a “multi-platform media company.
The star will make it a big deal if they can acquire it. It will be one of the biggest deals of the year in Hollywood.
But to make it possible, Lowe needs to face competition from other major bidders in the line, like the Summit Entertainment of Twilight fame. However, the bid from Summit is not confirmed yet.
Miramax was finally closed after several money troubles and its parent company Disney absorbed it on January 28. They have a big fight ahead to finalize the deal. We wish to see the entrepreneur side of the actor, hope he succeeds in this new venture.
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Tags: bidders, co founder, entrepreneur, fame, harvey and bob weinstein, hollywood actor, insider, investment firm, lowe s, men at work, miramax films, money troubles, old men, parent company, pen men, real estate investment, rob lowe, summit entertainment, tom barrack, twilight