Miramax locked in tie-up talks with Weinstein

THE Weinstein Co has held preliminary talks with Miramax about a possible deal that could create one of the most powerful independent film players, according to reports.

A deal would reunite Weinstein brothers – Harvey and Bob – with Miramax, a company they founded and later sold to Walt Disney, which owned Miramax Films until 2010, according to The Wall Street Journal.

Quoting an unnamed source, the paper said talks began several weeks ago with a meeting between Weinstein chief executive Harvey Weinstein and Miramax chairman Tom Barrack.

Barrack confirmed the meeting in an email to the paper, but declined to confirm a potential merger.

News of the merger talks was first reported by Variety.

The Weinstein brothers left Miramax in 2005 after a contentious relationship with Disney and that year founded the Weinstein Company, backed by investment bank Goldman Sachs.

The firm is best known for its low-budget, critically acclaimed movies, such as Oscar-winner “The King’s Speech” in 2010 and “The Artist”, both of which won the best picture category at the Oscars.

Disney sold Miramax to Filmyard Holdings, which is backed by Barrack’s private-equity firm, Colony Capital, as well as the Qatari Investment Authority.