Fortress Investments has forcefully denied a New York Post report that it has cut its ties with Bob and Harvey Weinstein and is pulling out of the deal to buy Miramax from Disney. In a statement issued on Saturday, a day after the Post 's article appeared (but dated Friday), Fortress called the report "patently false" and said that it "remains committed" to the deal. It also maintained that its relationship with the Weinsteins, contrary to the Post 's report, "remains strong and constructive, and the group has ample financial backing to successfully pursue an acquisition of Miramax." Reporting on the Fortress denial, Sharon Waxman of TheWrap.com speculated that the Post story may have been planted by someone close to rival Miramax suitor Ron Tutor, who is backed in his bid by Colony Capital. Waxman, citing reports that "have been seeping out" to her, said that the Colony's reported $675-million bid may hinge on whether it can come up with $300 million in debt financing from banks. Meanwhile, actor Rob Lowe has denied claims by Tutor that he is not part of Tutor's group. Lowe told the TV website Zap2it.com, "We are right now in very heavy negotiating with Disney. ... I think it's going to close, and it's going to be really, really exciting."

26/07/2010