DizneyRox
07-30-2010, 07:00 AM
From Reuters:
Disney sells Miramax for over $660 million to Filmyard
LOS ANGELES — Walt Disney Co has sold film studio Miramax for more than $660 million to Filmyard Holdings LLC, ending months of talks between the media group and various bidders.
Construction magnate Ron Tutor, investment firm Colony Capital LLC and other individuals are part of Filmyard Holdings, Disney said.
The sale of Miramax includes rights in over 700 movie titles including Academy Award winners such as "Chicago," "Shakespeare in Love" and "No Country for Old Men," Disney said.
While Miramax has continued to pump out critically acclaimed films such as "Doubt," it is some time since it made big commercial hits such as "Pulp Fiction" and "Chicago."
"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," Disney Chief Executive Robert Iger said in a statement.
... story continues ...
Found this on msnbc.com I'd assume it also available on your favorite news source.
Disney sells Miramax for over $660 million to Filmyard
LOS ANGELES — Walt Disney Co has sold film studio Miramax for more than $660 million to Filmyard Holdings LLC, ending months of talks between the media group and various bidders.
Construction magnate Ron Tutor, investment firm Colony Capital LLC and other individuals are part of Filmyard Holdings, Disney said.
The sale of Miramax includes rights in over 700 movie titles including Academy Award winners such as "Chicago," "Shakespeare in Love" and "No Country for Old Men," Disney said.
While Miramax has continued to pump out critically acclaimed films such as "Doubt," it is some time since it made big commercial hits such as "Pulp Fiction" and "Chicago."
"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," Disney Chief Executive Robert Iger said in a statement.
... story continues ...
Found this on msnbc.com I'd assume it also available on your favorite news source.