The collapse of the Miramax sale at Disney has become the supine elephant in the middle of Hollywood’s living room: The companies up on the bloc are not selling.
Before falling apart finally this week, the bidding over Miramax inched up over a few weeks this spring. But the same cannot be said for MGM or Overture, two other movie companies that have been available for sale for months, with no discernible movement.
“A whole bunch of these deals are floating around, and they’re not being done,” said Harold Vogel, a veteran entertainment industry analyst. “There is a sense of frustration.”