Updated 2:05 PM:
The Gores brothers have raised their bid for Miramax, an individual close to the negotations confirmed to TheWrap.
Previously:
Bidding over Miramax is rising to a fever pitch this week.
The Los Angeles Times has reported that Tom and Alec Gores have raised their bid for Miramax, in the wake of WaxWord’s report that The Weinstein Company pushed its offer to $600 million in all cash.
Disney had sought $700 milllion for the studio, but valuation experts could not justify more than about $500 – $550 million for what is essentially a very high-end library of about 600 films, including "My Left Foot," "Shakespeare in Love," "Pulp Fiction" and "The English Patient."