Gores brothersconsidering joint offer for Miramax

Los Angeles : Alec and Tom Gores, billionaire brothers who run separate private equity firms, are weighing a joint bid for Walt Disney's Miramax film studio, according to two people with knowledge of the plans.

Alec's The Gores Group LLC and Tom's Platinum Equity are considering making an offer in the $500-million (Dh1.83 billion) range, said the people, who asked not to be identified because talks are private. Miramax was founded by filmmaker siblings Harvey and Bob Weinstein.

The Gores plan to revive Miramax as an independent film studio, adding production and distribution operations, these people said. Disney is selling Mir-amax and its 700-movie library that includes Pulp Fiction, Chicago and No Country for Old Men. Sam Gores, a third brother, is chairman of the Paradigm talent agency and is advising on the bid, they said.

Disney Chief Executive Officer Robert Iger said on a February 9 conference call that the company determined "that continuing to invest in Miramax movies wasn't necessarily a core strategy of ours".

Formal bids for Miramax are due by the end of the month and Disney will likely select a buyer as early as the third week in April, the people said.

Scott Honour, a managing partner at Los Angeles-based Gores Group, said the company declined to comment. Zenia Mucha, a spokeswoman for Burbank, California-based Disney, didn't respond to messages seeking comment. Washington Redskins owner Dan Snyder also plans to bid for Miramax, according to a Los Angeles Times report.