Miramax Films is likely to release as many as 22 movies in the next seven months as co-chairmen Harvey and Bob Weinstein prepare to leave the company, including several pictures that had been shelved or whose release dates had been repeatedly delayed, executives at the studio say.
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Among the more troubled projects now planned for release is director John Dahl's "The Great Raid," a World War II prisoner of war drama that has been undergoing re-edits for more than a year. The film - which stars Benjamin Bratt and has been estimated by people involved with the movie to have cost $80 million - will be released in August or September, the executives said. Miramax has released about a half-dozen films since Oct. 1.
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The thriller "Mindhunters," which has been finished for two years and has been seen widely abroad, now has a scheduled release date in May, according to an assistant to the film's director, Renny Harlin. A Miramax executive said the picture, which stars Christian Slater and LL Cool J, was likely to be released, but that a precise date remained uncertain.

"Prozac Nation," starring Christina Ricci, shelved for more than four years, has just been sold to the Starz! cable network, and will be released on DVD in the coming months.

Director John Madden's "Proof," with Gwyneth Paltrow and Anthony Hopkins, is among the pictures to be released before the Weinsteins leave Miramax. It had been scheduled for release late last year, but it was delayed and missed the current film awards season.

"Prozac Nation," starring Christina Ricci, shelved for more than four years, has just been sold to the Starz! cable network, and will be released on DVD in the coming months.

LOS ANGELES (Hollywood Reporter) - Walt Disney Co. plans to relocate its Miramax Films unit to Los Angeles, where a streamlined version of the arthouse titan will operate like "an elite SWAT team," according to a Disney source.

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The two companies began a new series of meetings Wednesday to determine the terms of a separation agreement that will see Miramax co-chairmen Bob and Harvey Weinstein leave the New York-based firm in September after several years of strained relations with Disney.

According to studio sources, Walt Disney Studios chairman Dick Cook plans to hire a new executive to run a reconfigured version of the specialty division, which will be located in Burbank under Disney production president Nina Jacobson.

"It'll be the old-model Miramax before they got a taste for big-ticket pictures," added the Disney source, who further described it as "a filmmaker-friendly environment where they'll be searching for new talent, putting out about 10 movies a year, with five acquisitions."

Disney is expected to consolidate Miramax's back-office financial accounting, distribution collections and incremental overhead.

The Weinsteins are in the process of raising financing for the New Co., which is the temporary name they have given their new venture. They have enlisted help from such Wall Street companies as Salomon Smith Barney and Goldman Sachs, both of which helped them to assemble $420 million in equity to help finance films like "Cold Mountain." That deal fell apart when Disney refused to participate in equity financing.

Pathe, a European distribution and production company, also might be a player in the Weinsteins' future company. According to one source, Harvey Weinstein has been in discussions with Pathe chairman Jerome Seydoux about forming a joint venture.

It's not clear what shape that joint venture would take, but those close to the situation speculate that it could involve a shared interest in the Weinsteins' future distribution company and access to Pathe's international sales operation.

Miramax recently released Pathe's "Bride & Prejudice," from "Bend it Like Beckham" director Gurinder Chadha, and the Oscar-nominated "Les Choristes" (The Chorus). The company is scheduled to release Pathe's "Dear Frankie," starring Emily Mortimer, next month, and it recently bought North American rights to Pathe's "Mrs. Henderson Presents," directed by Stephen Frears and starring Judi Dench (news).

The streamlined Miramax will be allotted an annual budget of about $350 million, sources said. At the height of its growth two years ago, Miramax boasted 485 employees with an annual budget of $700 million, according to a company spokesperson. Those numbers are now down to about 200 employees and a $500 million budget.

During the past year, Miramax cut back its overhead and staff. It postponed the release of "Proof," starring Gwyneth Paltrow, and "An Unfinished Life," starring Robert Redford and Jennifer Lopez (news), because it was felt their release would have strained the Weinsteins' Oscar campaign staff, which was handling "The Aviator" and "Finding Neverland."

But the distributor has recently committed to releasing from 18-22 films between now and September. Staffers in the Miramax publicity department didn't learn about the massive marketing launch until this week, and some wonder how the feat will be accomplished. "Nobody releases 22 films in seven months and does a good job," one Miramax publicity executive said.

Fourteen films already are booked in theaters, starting with the Wes Craven horror thriller "Cursed," which opens Friday, and running through Danny Boyle's long-on-the-shelf sci-fi comedy "Alien Love Triangle," set for Sept. 16. Other titles include some big-budget films that have been kicking around the release schedule for months, including John Dahl's troubled "The Great Raid," starring Benjamin Bratt (news), Joseph Fiennes (news) and Connie Nielsen, which was originally scheduled to open in December, and Terry Gilliam's "The Brothers Grimm," whose commercial prospects are doubtful, insiders fear. Miramax has high expectations for its two upcoming releases from Robert Rodriguez: "Sin City" (April 1) and "The Adventures of Shark Boy & Lava Girl in 3-D" (June 10).

Several issues remain unresolved in the negotiations, most notably the question of the Weinsteins' departing bonus. Although reports have pegged that figure at $100 million-$150 million, according to sources familiar with the discussions, it is impossible to quantify the compensation until further decisions about how properties are to be divided. One key could be the Weinsteins' participation in future Miramax projects, including more sequels to "Spy Kids" and "Scary Movie."

Reuters/Hollywood Reporter