CATEGORIES Movies
Miramax was the classic American success story: A pair of brothers start a tiny, independent film company from scratch, turn it into an industry powerhouse and end up selling it to a major studio for a huge profit. But for the Weinsteins, their dream turned sour when that studio, Disney, forced them out before finally shutting down Miramax for good earlier this year and putting the remnants up on the auction block.

Now it appears the Weinsteins are about to live out another archetypal American tale: the comeback.

Yes, according to The Hollywood Reporter, Bob and Harvey Weinstein appear poised to reacquire Miramax from Disney nearly 17 years after they originally sold the company for $80 million. Miramax was the classic American success story: A pair of brothers start a tiny, independent film company from scratch, turn it into an industry powerhouse and end up selling it to a major studio for a huge profit. But for the Weinsteins, their dream turned sour when that studio, Disney, forced them out before finally shutting down Miramax for good earlier this year and putting the remnants up on the auction block.

Now it appears the Weinsteins are about to live out another archetypal American tale: the comeback.

Yes, according to The Hollywood Reporter, Bob and Harvey Weinstein appear poised to reacquire Miramax from Disney nearly 17 years after they originally sold the company for $80 million. The price tag to buy back their brainchild is a bit steeper this time around, as the rights to Miramax's 611 title film library will cost the duo roughly $600 million.

Of course, that's a lot of cash, so the Weinsteins are wisely following the ancient Hollywood maxim "never spend your own money." Instead, billionaire financier Ron Burkle and his Yucaipa investment group, teaming up with the Fortress and Colbeck Capital hedge funds, will provide the capital while the Weinsteins provide direction to the new Miramax.

What this means for their current enterprise, The Weinstein Company, remains to be seen; but given their recent box office failures (see: 'Nine'), which have led to widespread layoffs, it wouldn't be a surprise to see the brothers fold the remaining employees and projects from The Weinstein Company into Miramax once the deal is completed.

Or rather, if the deal is completed. While the Weinsteins appear to be the front-runners, no official deal has actually been struck yet, as, according to Deadline, Disney's lawyers are still weighing offers from other potential suitors. In turn, the Weinsteins are said to be increasing their offer by upwards of $15 million in an effort to secure an exclusive negotiating window to hash out a final deal.

But as the story of Miramax continues to prove, in Hollywood, nothing is ever truly final.