Nicole Sperling
July 07, 2010 AT 09:13 PM EDT

Rob Lowe, media mogul? That is a bit of an exaggeration, considering today’s rumors that the veteran actor is out to acquire Miramax from Disney. What is true is Lowe is involved in the aggressive bid for the indie label that construction magnate Ron Tutor has launched, but his involvement comes primarily on the creative side. Tutor has partnered with Tom Barrack’s Colony Capital to buy Miramax for around $700 million. (Deadline first reported the update to the negotiations this morning.) Sources confirm that Barrack’s colleague for the past few years, 12-year Disney veteran Richard Nanula is managing the day-to-day negotiations and, according to sources, the deal is looking good. Disney declined to comment.

How does Lowe fit into all of this? His reps couldn’t be reached at the time of posting, but sources say that Barrack has been friends with Lowe for seven years and wants to help the 46-year old actor — who will has joined the cast of Amy Poehler’s Parks and Recreation — reach the next level in his career. And if this deal is any indication, it involves being a power player in the indie film business. Sources are hopeful that the deal will close in the next week. It seems Tutor, who had worked with disgraced media financier David Bergstein to get the deal to where it is today, needed to bring in some heavy hitters to give Disney more comfort that the deal would not go south considering Bergstein’s shaky financial history.

Other media reports suggest that Harvey Weinstein is fuming mad over the latest development that will see the company he built with his brother go to another party. But Weinstein is longtime friends with both Barrack and Nanula, and sources say there may be a way to appease the fiery Weinstein should a deal come to fruition.

Read more:

Rob Lowe ditches ‘Brothers & Sisters’ for ‘Parks and Recreation’

Weinsteins reportedly near deal to buy Miramax back from Disney

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