Miramax sold to Ronald Tutor, Colony Capital

3:18 PM PDT 7/8/2010 by Alex Ben Block, AP

Disney unloads studio, 611-picture library for $650 million

An agreement in principle has been reached for Disney to sell the Miramax Films name and its 611-picture library for about $650 million to a group led by construction executive Ronald Tutor and Colony Capital, a privately held institutional investment firm run by founder and CEO Thomas Barrack Jr. But it is not a done deal.