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The Walt Disney Company has been quietly shopping what remains of its Miramax film unit and has attracted seven to 10 interested bidders, according to a mergers and acquisitions expert with knowledge of the process.
The initial discussions indicate a price of over $700 million for the Miramax name and its 700-film library, including films like “Pulp Fiction†and “Shakespeare in Love,†which is essentially all that remains of the once-mighty art house label, according to the person, who declined to be identified because of the confidential nature of the negotiations.
Interest is sharply higher than a year ago, when Disney briefly floated a Miramax sale before reconsidering because of the recession, and has been helped by a loosening of the credit markets.
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Photo Andrew Cooper/Miramax Films; Laurie Sparham/ Miramax Films; Laurie Sparham/Miramax Films; David James/ Miramax Films
