(Bloomberg) -- Miramax, the film studio founded by Harvey and Bob Weinstein and now owned by Qatar-based BeIN Media Group, is interested in acquiring the embattled brothers' Weinstein Co., according to people familiar with the sale process.
A sale to Miramax, acquired by BeIN in 2016, would unite the film libraries of the companies and potentially allow the brothers to have an ongoing role in the business, said the people, who asked not to be identified because the discussions are private. The Los Angeles Times reported earlier Tuesday that Miramax had made an offer.
Talks with some other parties appear to have reached an impasse, the people said. Former Small Business Administration chief Maria Contreras-Sweet, who leads a group that made an offer, is no longer in active negotiations with Weinstein Co. or its representatives, the people said. Killer Content, another studio interested in buying the business, said Monday in a statement it was frustrated by the sale process.
“We believe that the sale should not be an optical rebranding of management or name,” said Killer Content, a film and TV company whose bid is backed by philanthropist Abigail Disney.
Weinstein Co., producer of Oscar winners such as “The King's Speech,” has been looking for a buyer or financial support after a series of articles alleging sexual assault by Harvey Weinstein were published starting in October and several partners dropped projects with the company. He was dismissed, but his younger brother Bob remains a board member. Harvey Weinstein has denied engaging in non-consensual sex.
A Weinstein Co. spokeswoman didn't immediately respond to a request. BeIN didn't have an immediate response when reached by telephone on Wednesday.
--With assistance from Thomas Seal
To contact the reporters on this story: Christopher Palmeri in Los Angeles at cpalmeri1@bloomberg.net, Anousha Sakoui in Los Angeles at asakoui@bloomberg.net.
To contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Bruce Rule, Rebecca Penty
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