There are many rumors concerning the Weinstein brother’s bid to regain control over the company they started, Miramax. Disney has offered them a chance, and apparently they were able to find some partners with enough financing to secure the rights to the company, but they haven’t been able to make things work financially for operating the studio going forward.
This is a shame, but reflects that nature of the movie business right now. Larger box office takes than ever for the mega-hits, means the movie business is still very profitable. But if your business is the smaller art film, then it’s tougher than ever. If anyone could find their way around that dilemma I think it would be the Weinsteins.
Maybe there is still a chance they can pull this off, but the NY Times says it’s over.