Disney Drops Miramax Deal

After high-stakes (and highly public) negotiations, Disney has ended talks with Bob and Harvey Weinstein in their effort to buy back Miramax Films for close to $625 million, sources tell The Wall Street Journal. The movie moguls originally sold the hit-making studio for $80 million in 1993 and were backed by billionaire Ron Burkle in their attempt to broker what sources say was an overly complex deal to regain control of Miramax, which they co-founded in 1979. The collapse of talks clears the way for other potential buyers, including Tom and Alec Gores, who reportedly have a $200 million deal in the works.