Tutor Deal Still On To Buy Miramax
Ron Tutor and his Colony Capital on Thursday attempted to shoot down numerous reports suggesting his $660-million deal to buy Miramax from Disney may have encountered a hitch with the departure of James Robinson from his investors group. Robinson was expected to contribute $100-150 million to the purchase. "All of the equity required to complete the purchase of Miramax from Disney has been fully committed," the group, Filmyard Holdings, said in a statement on Thursday. "Recent published reports suggesting otherwise are incorrect. All aspects of the transaction are on track, and we anticipate a closing as planned prior to year's end." Reports also indicated that investor Jerome Swartz had not pulled out of the group, as several reports had indicated.