Ron Tutor Hopes To Shed Entertainment Assets Within 10 Days

Investor Ron Tutor told analysts and journalists today on an earnings call for his multi-billion-dollar construction businesses that he was looking to unload at least some of his share of movie business assets within the next 10 days. Tutor is one of a group of investors who purchased Miramax from Disney for $663 million in 2010. In response to a question near the end of the call, Tutor said if for any reason the plan to shed movie assets falls through, he likely will execute a stock sale in July. Some of the assets are tied up in bankruptcy or other litigation, but onetime Tutor investment associate David Bergstein has agreed to drop his litigation concerning his dealings with Colony Capital in exchange for “a small amount of money” for his efforts to achieve the Miramax purchase.

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