The long boxing match between Kim Basinger and Carl Mazzocone of Main Line Pictures over “Boxing Helena” is nearing the final bell. After the presiding judge refused to grant a continuance, the case is due to be retried in state superior court on June 26. Buzz hears lawyers from both sides have been hard at work trying to settle it before then. Sources said that a settlement of around $3 million that was near several weeks ago is now close to being signed off on.

It’s complicated, because Basinger went into bankruptcy after being ordered to pay Mazzocone $8.9 million for breaching her contract to star as the limbless protagonist in the Jennifer Lynch-directed pic. That amount was reduced to $8.1 million, then thrown out completely on a technicality by a California appeals court. The settlement is further complicated by the fact that Ed Harris, originally set to star alongside Madonna and then Basinger, had a claim on a pay or play deal worth $600,000, which also has to be worked out.

A spokeswoman for Basinger acknowledged a settlement’s coming, but wouldn’t comment on the amount. She said it’s between Main Line and the bankruptcy trustee, adding, “The settlement is expected to exonerate Kim.” Mazzocone didn’t return calls.

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