Hope had recently been glimpsed when the Weinsteins rode back in alongside supermarket mogul Ron Burkle and entered into an exclusive negotiating window earlier this year. But it seems that fairytale ending-like development wasn’t meant to be, and the fate of Miramax was no closer to being resolved.
But, today, a light has started to shine on Miramax from a rather unexpected source.
TMZ have broken the news that 80s legend Rob Lowe has emerged as a candidate to rescue the long-ailing studio from oblivion- albeit backed by some seriously big-money business players. The deal would involve a tidy $700m changing hands between Lowe’s group and the famous Mouse House, and has no doubt been further sweetened for Disney by Tutor’s recruitment of Richard Nanula, who is well known to them thanks to his time served as a former Disney chief financal officer.
The news a few days ago had Lowe meeting in the swanktastic C Restaurant in London with business mogul Tom Barrack, president of Colony Capital, the “colourful” sometimes sports team owner Flavio Briatore and the restaurant’s owner Giuseppe Cipriani to discuss a multi-million dollar deal to start up a multi-platform media company in the mould of a Dreamworks. Further developments have ruled both Briatore and Cipriani out of the running for Miramax, with the three man management team being made-up by Lowe, Barrack and Ron Tutor, the construction mogul who has held exclusive negotiating rights for the studio since early June with partners Colony Capital, and had, according to Reuters, been reportedly scouring a list of over 100 recognisable names to fill two top management spots that they had identified.
Just how did Rob Lowe find himself in such auspicious company? The other members of the consortium clearly bring business knowledge and money to the table: while Lowe presumably doesn’t have the same kind of experience to match, nor quite as deep pockets, he does have the face and the charisma that make him a dream of a choice for the group’s ceremonial figurehead (a bit like the queen but with a few more questionable lifestyle experiences in his past). Crucially, Lowe also has the acting experience that will obviously appeal to the others when entering into the multi-media platform, and he has the added indie credentials that would make him a little less of a left-field choice to keep the indie dream alive.
I’d love to know the plans the group have in place for the studio, and how they fit with that famous indie spirit that so many of Miramax’s most acclaimed films channelled. One thing is for certain; the Weinsteins will no doubt be interested onlookers to any deal that seeks to resurrect their parentally-named former studio creation and take advantage of the 600 or so films that make-up the back-catalogue, as they still hold the rights to a few choice films from the stock and probably aren’t above muddying the waters for any new owners if they don’t fully agree with the direction the studio’s new guise looks to be taking.
The real question that I’m sure is on everyone’s lips is, in light of the failed attempts to buy Miramax already, whether the team featuring the Austin Powers actor will really be taking over the once mighty Indie studio, or whether it will all turn out to be a load of Number 2. Sorry, I couldn’t resist.