Disney finally sells Miramax, almost

After a long period of bidding and negotiations, Disney has finally received a non-refundable deposit of $40 million from an investor group that wants to buy Miramax Studios. The final price is $660 million, or about 8 times the original investment from Disney for the studios 17 years ago. Sadly this means that the Weinstein brothers won’t get the company they named after their parents back. But it is probably a good move for Disney.