LOS ANGELES, Jan. 14 (UPI) -- The Walt Disney Co. and its subsidiary Miramax Films are close to a final deal to sever their relationship, the Los Angeles Times reported Friday.
Citing sources, the paper said Disney and Miramax moved closer to a resolution of their differences during a meeting of key players at Disney's Burbank, Calif., headquarters Wednesday.
"We're very close," the paper quoted one source.
Neither Disney nor Miramax would comment. The paper's sources said the talks could drag on for a while longer, given the high stakes and "strong personalities" involved.
Disney formally acknowledged last month it might soon end its relationship with Miramax Films' Harvey and Bob Weinstein. In its annual Securities and Exchange Commission filing, the entertainment giant said it "does not expect business at its subsidiary Miramax to continue at the same level" after the current contract expires on Sept. 30.
The Times said sources close to Miramax suggest few obstacles remain in the way of a settlement, but a source close to Disney was not as optimistic.
"Are we making progress? Yes," the source said. "Is there a lot more to go? Yes."
