Miramax Films chiefs Bob and Harvey Weinstein plan to buy back Michel Moore's film Fahrenheit 9/11 - which the Walt Disney Co blocked Miramax from releasing - and distribute it themselves.
Under the deal, the brothers, who have a thorny relationship with parent company Disney, would not be able to distribute the movie through Miramax. They would have to find a third party company.
Moore's film criticises US President George W Bush's handling of the September 11 terrorist attacks and connects the Bush family with Osama bin Laden's.
Disney chief executive Michael Eisner said last week that the company "did not want a film in the middle of the political process" because he believed that theme park and entertainment consumers "do not look for us to take sides".
Miramax co-founder Harvey Weinstein spent about $US6 million ($A8.6 million) on the film. He and his brother would have to repay Disney for the investment, and would likely insist on a deal that cuts Disney out of any future profits.
A similar deal was worked out in 1999 when Disney forced Miramax to give up filmmaker Kevin Smith's Dogma, which took an irreverent approach to Catholicism with modern prophets, angels and apostles in a bid to stop the end of the world. Lions Gate Films eventually picked up Dogma.
"We're very happy that Disney has agreed to sell Fahrenheit 9/11 to Bob and Harvey," Miramax said in a statement. "Bob and Harvey look forward to promptly completing this transaction."