Disney still talking with Burkle, Weinsteins about Miramax sale
Advertiser News Services
LOS ANGELES — Billionaire Ron Burkle and potential partners Harvey and Bob Weinstein denied reports yesterday that talks to buy The Walt Disney Co.'s Miramax Films division were on the rocks.
The bidders sent out a statement saying, "The Weinstein brothers, The Weinstein Co. and Ron Burkle are all working towards a deal to purchase and operate Miramax."
Discussions were being slowed, mainly because of problems securing the Weinstein brothers as the company's managers, according to two people familiar with the matter who were not authorized to speak publicly and requested anonymity.
The Los Angeles Times reported earlier the talks had fallen apart.
Disney had been negotiating exclusively since mid-April with Burkle, a 57-year-old supermarket mogul, to sell him the niche movie label for about $625 million.
CHRYSLER PLANS TO HIRE 1,100 FOR SUV PRODUCTION
DETROIT — Chrysler Group LLC gave a big boost to the battered Michigan economy yesterday when it announced plans to add about 1,100 workers to help build the new Jeep Grand Cherokee.
The company made the announcement at a Detroit factory as it celebrated the start of Grand Cherokee production. Chrysler said it expects strong sales of the new sport utility vehicle, which is due in showrooms next month.
The workers will staff a second shift at the factory, called the Jefferson North Assembly Plant, starting July 19.
$25M INVESTMENT TO FUND NEW FOCUS FOR BORDERS
NEW YORK — Book seller Borders Group Inc. hopes to redefine itself with a new $25 million investment from financier Bennett LeBow, who will become its chairman and biggest shareholder.
In an era of deep discounts on printed books and growing consumer appetite for electronic ones, the struggling company will use the infusion it announced yesterday to strengthen its balance sheet and invest in its online business.