Print Edition
August 2010 
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Lionsgate Also Eyeing Up Miramax |
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Muazzin Mehrban, February 2010 |
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(09 February 2010)
Independent movie studio Lionsgate has been touted as a potential bidder for Miramax, which was recently put up for sale by the Walt Disney Company. The New York Post says that Lionsgate, although not considered a frontrunner for MGM, another company it has expressed interest in, has still advanced to a second round of bidding for the business which is struggling under $4bn of debt.
It is thought that while Lionsgate may not have the financial clout to win MGM, it could easily afford Miramax. “MGM might be too much of a mouthful for them, but Miramax is much more bite-size,” one source told The Post.
Initial discussions with potential buyers indicate that a price for Miramax and its 700-strong film library could be in the region of $700m.
Interest in the studio has increased as loosening credit markets have allowed interested parties access to bid financing.
Another potential buyer for Miramax is Summit Entertainment, rich from the success of its ‘Twilight’ films, while a host of private equity films have also signalled their interest.
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