Reportedly in the works for months now, Disney has finally sold Miramax Films to Los Angeles billionaire Ronald Tutor.  Tutor picked up the studio for $675 million dollars along with partners Morgan Creek, Colony Capital and David Bergstein.

Miramax will continue daily operations and Morgan Creek will become the distribution partner to Miramax.

Disney hasn’t officially commented on the deal yet but it is expected to be finalized by the end of this month.