Talks going slow on Disney's Miramax sale: Sources

Talks to hammer out final details are ongoing in the envisioned purchase of Walt Disney Co's Miramax films by Hollywood producers Bob and Harvey Weinstein and billionaire Ron Burkle's Yucaipa Cos, sources said on Friday.

But a third source said the deal appears near a breaking point amid disagreements between the buyers over control of the unit.

Two sources with knowledge of the situation denied reports in the Los Angeles Times and the New York Times that the deal had fallen through, saying talks are continuing. Yucaipa Cos and Weinstein Company have launched a $625 million bid for Miramax, which has a library of more than 600 films including Pulp Fiction and The English Patient.

But a third source said discussions have hit a roadblock for now, as tensions emerged between the two would-be buyers.

The parties entered into an exclusive negotiating window in April on the sale of Miramax.

The first source said a deal could be reached within the next two weeks and that the remaining stumbling blocks are not over the final price tag, but over details such as the percentages on revenue-sharing agreements.

The second source with knowledge of the situation said Yucaipa and Miramax are still united in their bid, and there has been no rift -- despite reports to the contrary.

The Wall Street Journal initially reported on Friday that the deal had fallen apart. But it later revised that report and said the deal appeared to be "on the rocks."

Disney, Yucaipa and the Weinsteins declined to comment.

A source with knowledge of the situation said that the exclusive window has been extended as talks continued and that it was due to expire at the end of this week.

Before it entered into exclusive talks with Yucaipas and the Weinsteins, sources said Disney had received a $650 million offer from embattled film executive David Bergstein, who had recently been taken to court by creditors seeking to force several of his companies into bankruptcy.

Disney also had received a $550 million offer from the firms of financiers Alec and Tom Gores, with their brother Sam Gores, head of Paradigm Talent Agency, acting as adviser, sources said. That bid was later raised, sources said, but it was unclear by how much.

Disney has sought to sell its Miramax unit after shuttering its production division. The company views Miramax, with its edgy mix of films, as a poor fit for Disney's family-friendly business focus.