The deal ends a laborious six-month bidding process in which the founders of the storied independent film label, the brothers Harvey and Bob Weinstein, fell short in their attempt to regain control. Disney agreed to the sale after a construction magnate, Ronald N. Tutor, and his allies paid a nonrefundable $40 million deposit and presented a financing plan.
Disney said the transaction, which is subject to certain regulatory approvals, was expected to close between Sept. 10 and the end of the year. “Although we are very proud of Miramax’s many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands,” Disney’s chief executive, Robert A. Iger, said in a statement.
