It is being reported that the Walt Disney Company has not yet finalized it’s deal to sell Miramax for $660 million to a group led by Ron Tutor. It is expected that the deal will not be fully closed until September.
Apparently, there is a problem with determining the worth of Miramax’s movie catalog – meaning there is a chance the deal won’t even go through if it is determined that the library of movies are worth either more or less than the amount previously agreed to by both companies.
In addition, Ron and his group are hoping that they will be able to get almost $300 million in financing to help them buy Miramax, and it is being reported that the banks have not given the go-ahead for this amount of money.
We’ll keep you posted.
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