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Disney Finally Sells Miramax

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Disney Finally Sells Miramax

Old 07-30-10, 08:44 AM
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Disney Finally Sells Miramax

As indy films struggle, Disney sells Miramax to a business consortium
09:05 AM


Disney's often fractious 17-year relationship with Miramax Films ended this morning when the entertainment conglomerate announced it agreed to sell the independent studio to a business consortium.

Disney says that Filmyard Holdings -- which includes businessman Ron Tutor, as well as investment firm Colony Capital and its chairman Tom Barrack -- will pay "over $660 million subject to certain adjustments."

The deal for Miramax and its 700-film library -- which includes the hits Chicago, Good Will Hunting, and Pulp Fiction -- is the latest sign of the flagging enthusiasm in Hollywood for indy films. Producers are finding it hard to borrow cash in this anemic economy and have been hurt by declining DVD sales and rentals.

Earlier this week Liberty Capital's Starz Media sold its Overture Films operations to a relative new-comer, Relativity Media. Meanwhile, billionaire Carl Icahn is battling to control Lionsgate Entertainment.

Miramax was considered the industry's top indy studio in 1993 when Disney, with great fanfare, paid $80 million for the studio and took aboard its colorful founders Harvey and Bob Weinstein. But the Weinsteins left in 2005, after years of disputes with Disney management. The company slashed Miramax's production slate.

Disney says it expects the deal with Filmyard to close by year end.

By David Lieberman
http://content.usatoday.com/communit...s-consortium/1
Old 07-30-10, 10:02 AM
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Re: Disney Finally Sells Miramax

Weinsteins didn't want to pay over $600MM and the winning bidder put down a non-refundable $40MM deposit.

Interesting because Miramax still includes Scream and some other franchise(s) still under Weinstein Bros. control.
Old 07-30-10, 10:08 AM
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Re: Disney Finally Sells Miramax

Great, fantastic, whatever... just get Pulp Fiction and Jackie Brown out on Blu-ray already.
Old 07-30-10, 10:13 AM
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Re: Disney Finally Sells Miramax

Originally Posted by KillerCannibal
Great, fantastic, whatever... just get Pulp Fiction and Jackie Brown out on Blu-ray already.
this. and HIGH FIDELITY.
Old 07-30-10, 10:42 AM
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Re: Disney Finally Sells Miramax

Does this also include Dimension? If so, hopefully the "business consortium" will remedy the glaring omission of Godzilla vs. Biollante on dvd!
Old 07-30-10, 10:48 AM
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Re: Disney Finally Sells Miramax

^ Word to that!
Old 07-30-10, 12:12 PM
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Re: Disney Finally Sells Miramax

If they paid so much for the library, it means they want to do something with it. Don't bet on fully-loaded editions, though.
Old 07-30-10, 12:51 PM
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Re: Disney Finally Sells Miramax

Way to go Disney, you completely ruined a brand.
Old 08-02-10, 08:26 PM
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Re: Disney Finally Sells Miramax

Miramax had 700 films??

Edit: Hrmph. I guess... http://www.imdb.com/company/co0022594/
Old 08-02-10, 08:35 PM
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Re: Disney Finally Sells Miramax

The count probably includes a good chunk of foreign films to which they have distribution rights in the US. That includes stuff like the Three Colors trilogy, which should be licensed to Criterion ASAP if they aren't planning to do anything with it.
Old 08-02-10, 08:36 PM
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Re: Disney Finally Sells Miramax

where's the poll?
Old 08-02-10, 08:39 PM
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Re: Disney Finally Sells Miramax

Originally Posted by Lemmy
I'd even be happy as a clam with bare-bones editions, so long as the A/V quality is up to snuff.
No...at least give me the features that were on the DVD and I'm great.
Old 08-02-10, 08:42 PM
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Re: Disney Finally Sells Miramax

I wonder if this will translate into a clearance section of catalog titles in the Disney Movie Club?

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