LOS ANGELES — The Walt Disney Co. has called off talks to sell its Miramax movie division to billionaire Ron Burkle for $625 million, a person familiar with the matter said Tuesday. The deal would have seen the label’s founders, the Weinstein brothers, regain control of the Oscar-laden catalog.
Talks with Burkle and the Weinsteins hit an impasse over how the Weinstein Co. would benefit from the arrangement and how Harvey and Bob Weinstein would spend their time managing two movie studios. Disney called off the talks late Monday, the person said.
A second person familiar with the talks said Disney on Monday reopened negotiations with another pair of brothers who are bidding for the unit, Alec and Tom Gores. Neither person was authorized to speak publicly, and both spoke on condition of anonymity. The Associated Press
