Disney to sell Miramax Films for $660m
NEW YORK — Disney is selling Miramax Films for about 660 million dollars to the Filmyard Holdings consortium in a deal that includes rights to dozens of award-winning movie titles.Walt Disney…
NEW YORK — Disney is selling Miramax Films for about 660 million dollars to the Filmyard Holdings consortium in a deal that includes rights to dozens of award-winning movie titles.Walt Disney Company announced the sale Friday, saying it expected the deal to close before the end of the year, subject to regulatory approval.The sale hands a group of investors, including Colony Capital fund, the rights to over 700 film titles, including "Chicago," "Shakespeare in Love," and "No Country for Old Men."The deal also includes non-movie assets, including books and project still in development, Disney said."Although we are very proud of Miramax's many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands," said Robert Iger, Disney's president and CEO.Ron Tutor, a member of the Filmyard consortium, said he was "delighted and honored" to acquire Miramax and its movie library."We look forward to sharing this high quality content with the world in every form of media for many years to come."The announcement ends weeks of speculation about Miramax's fate. Producer brothers Bob and Harvey Weinstein, who founded the studio in 1979, were said to be among those interested in acquiring it. Copyright © 2010 AFP. All rights reserved. More »
last modification 2010-07-30 14:45:01
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