BeIN Media Group, the Qatar-based media company that owns the Miramax film library, won’t be making any deals with moguls Harvey or Bob Weinstein even if it ultimately decides to purchase their embattled Weinstein Co., a spokesman said.
BeIN, which bought Miramax in 2016, is among the bidders for Weinstein, which fell into distress after co-founder Harvey was accused of sexual assault and production partners abandoned the company. Harvey Weinstein has denied engaging in non-consensual sex. A spokesman for Miramax, founded 40 years ago by the Weinstein brothers and named for their parents, ruled out any ongoing role for the siblings.
“Should BeIN be successful in bidding for the Weinstein company, there isn’t a scenario that Bob and/or Harvey Weinstein would return to the management,” Miramax said. “No one from Miramax or BeIN has had any conversations with the Weinstein brothers during this bidding process.”
Combining the companies would unite award-winning film libraries created by the brothers over almost 40 years, from their early days at Miramax, which they sold to Walt Disney Co., to Weinstein Co. The investment banker Moelis & Co. is running the auction.
A deal with Miramax, which already has the rights to Oscar-winning pictures such as “Chicago” and “The English Patient,” also won’t result in a windfall for the Weinsteins, even though they have a large stake in the company, the spokesman said.
Final bids for the company are due by mid-February, according to a person with knowledge of the situation. Other suitors include Killer Content and former Small Business Administration chief Maria Contreras-Sweet.
To contact the reporter on this story: Anousha Sakoui in Los Angeles at asakoui@bloomberg.net.
To contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Bruce Rule, Jessica Brice
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