Miramax deal is done (we think)

Disney has agreed to sell the movie production company to a group led by L.A. billionaire Ron Tutor for $675 million, Sharon Waxman is reporting at The Wrap. Among the partners: Morgan Creek, Colony Capital, and producer David Bergstein. Colony Capital, a prominent investment firm based in Santa Monica, entered the picture a week or so ago. Its entertainment division is run by former Disney CFO Richard Nanula, and Waxman notes that his relationships with the Mouse House brass helped move along the process. The tortuous Miramax sale has been playing out for months, with Disney not happy with the prices being offered and a handful of interested parties coming and going. Aside from Tutor and Bergstein, the most prominent bidders were the Weinstein brothers, who started up Miramax and then left after Disney acquired the company. The Weinsteins, working with another billionaire, Ron Burkle, couldn't cut the deal, at which point Disney began negotiating with Tutor & Co..