Rob Lowe May Be Involved in Negotiations to Buy Miramax
July 8th, 2010 - 10:03 pm ICT by Angela Kaye Mason
July 8 (THAINDIAN NEWS) Walt Disney has been actively attempting to sell off it’s financially troubled ‘Miramax’ for quite some time. The antics seem to have stepped up a bit, however, with the arrival of a new player on he scene, the unlikely Rob Lowe.
‘The New York Post’ reported that Rob Lowe has ties to the company known as Colony Capital, which is the private equity firm that specializes in purchasing the assets of those who have gotten in a financial crisis, and yet have valuable property, such as Michael Jackson’s ‘Neverland Ranch’ and Annie Liebovitz’s famous photography.
Colony has been said to have placed a bid to purchase Miramax, through David Bergstein, a financier and Ron Tutor, who is a construction magnate. They have placed a joint bid which is said to be between 600 and 700 million dollars for Miramax, since it has such an impressive archive of over 600 movies which include such titles as ‘Pulp Fiction’, Good Will Hunting’ and ‘Chicago’, to name a few.
This figure is much higher than what the other buyers involved seem to think Miramax is worth, and far more than the amount which Bob and Harvey Weinstein sold the company to Disney for back in 1993. Disney purchased Miramax for 80 million dollars, and Weinstein is frantic to get it back. Their bid was closer to 550 million, and was backed by Ron Burkle, a billionaire.
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Tags: annie liebovitz, antics, billionaire, bob and harvey weinstein, david bergstein, financial crisis, financier, good will hunting, impressive archive, magnate, michael jackson, million dollars, neverland ranch, new york post, private equity firm, pulp fiction, quite some time, rob lowe, ron burkle, walt disney