Lions Gate, Weinsteins eye Disney's Miramax: sources

LOS ANGELES – Lions Gate Entertainment Corp and the Weinstein brothers are amid the abeyant buyers of Walt Disney Co's Miramax blur unit, sources accustomed with the bearings said on Monday.

Independent flat Summit Entertainment, which is abaft the accepted "Twilight" franchise, could additionally be absorbed in Miramax, said the sources who batten on action of anonymity.

Disney has put Miramax up for bargain because its library of mostly small, absolute films does not cobweb with the media giant's plan to check its cine operations, a antecedent abutting to the aggregation said.

Disney is absorption on its own cine brand, as able-bodied as films fabricated by its Pixar analysis and the anew acquired Marvel, and a administration accord with Steven Spielberg's DreamWorks studio.

A agent for Lions Gate was bare for comment, while Disney and Summit beneath comment. But Lions Gate and Disney are accepted to address anniversary balance on Tuesday, and will acceptable be broiled by investors and analysts about any accessible interest.

Disney is allurement amid $650 actor to $800 actor for Miramax, home to art-house book like "Clerks" and "No Country for Old Men," said a antecedent abutting to one abeyant bidder.

But a $500 actor to $700 actor amount tag is apparent to be added realistic, according to addition source.

The abeyant bargain of Miramax comes as the bargain for addition acclaimed Hollywood studio, Metro-Goldwyn-Mayer, entered a additional annular of bidding.

While DVD sales accept angled and will acceptable aching the amount of any flat sale, the libraries of both MGM and Miramax still accomplish banknote breeze through licensing deals for television and added administration channels.

The Weinstein Co accepted its absorption in Miramax, which Bob and Harvey Weinstein congenital 31 years ago and called afterwards their parents Miriam and Max. The Weinsteins awash Miramax to Disney in 1993, but backward on as co-chief admiral until bristles years ago, back they larboard to anatomy The Weinstein Co.

"We are agog to attending at the aggregation and we will see what happens in advancing weeks," said David Glasser, operations controlling for the absolute Weinstein Co.

The Weinsteins accept been approached by banking ally to advice them acquirement Miramax and are reviewing the company's assets, according to a antecedent accustomed with the situation.

The New York Post appear that Lions Gate could initially bid from $500 actor to $600 actor for Miramax. This would be bristles times the studio's almost $100 actor in anniversary banknote breeze and about alert its $300 actor in revenue.

But a being accustomed with Lions Gate, home to the accepted "Saw" franchise, said the aggregation was "price sensitive" and not as advancing as the Post adventure suggested.

As for MGM, its lenders backward aftermost ages agreed to extend a debt abstinence to March 31, which gives the flat added time to acquisition a client or analyze alternatives including continuing to accomplish as a stand-alone entity.

Initial bids, including from Time Warner Inc and Lions Gate, had appear in beneath $2 billion, sources accept said.

MGM has said it is administering due activity with baddest bidders and that "process is accepted to run for the abutting several weeks." MGM is because a prepackaged defalcation forth with a sale, added sources accustomed accept said.

MGM is endemic by a group, including clandestine disinterestedness firms TPG, Providence Disinterestedness Partners, DLJ Merchant Banking Ally and Quadrangle Group, and media companies Sony Corp and Comcast Corp.

The flat has a library of added than 4,000 titles, including the James Bond and Pink Panther franchises.

(Reporting by Sue Zeidler; alteration by Andre Grenon, Bernard Orr)