NEW YORK (CNN/Money) - Walt Disney Co. doesn't intend to renew the contracts of Bob and Harvey Weinstein, the co-founders and co-chairmen of its Miramax Films unit, according to a published report.

Daily Variety, the Internet edition of the entertainment industry trade publication, quoted sources as saying a notification of non-extension has been given, but that it has not been acknowledged by Miramax. The brothers' contracts run through Sept. 30, 2005.

The paper reports that the Weinsteins continue to lobby the Disney board, hoping its profit contribution will persuade the company to change course.

Disney bought Miramax in 1993 for $75 million. The New York film company made its name on making and distributing independent, critically acclaimed films that do very well in the competition for Academy Awards, such as "Chicago" or "The English Patient."

The paper said that while Miramax could stay part of Disney, it is not clear if it would be the same studio without its hands-on founders. The paper said that while the Weinsteins have fought many battles with Disney and would be virtually certain to find a new home to make films if their contracts are not renewed, they don't want to leave the company they founded and named after their parents.

"Bob and Harvey hope for an amicable resolution that will allow them to continue to be productive members of the Disney family," a Miramax spokesman told the paper.

Disney is already on the verge of losing its relationship with Pixar Animation Studios (Research), an extremely successful film company that has produced five movies with Disney that were all blockbuster box office hits. Disney has had limited box office success this year with its own movies, raising the concern among some analysts as to whether the company could afford to lose both Pixar and the Weinsteins.

"If they both disappear that's huge for the division," Paul Kim, an analyst with Tradition Asiel Securities, told CNN/Money earlier this year.

YOUR E-MAIL ALERTS Miramax Michael Moore Harvey Weinstein Disney, Walt, Co or Create your own Manage alerts | What is this?

Earlier this year, Disney refused to allow Miramax to release the controversial documentary "Fahrenheit 9/11," a film by liberal filmmaker Michael Moore that is very critical of President Bush. Disney executives said they did not want to become involved with such a movie during an election year.

The Weinsteins bought the distribution rights back for "Fahrenheit 9/11" from Disney and released the film themselves, which became by far the most successful documentary of all time with more than $119 million in domestic box office.