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miramax

Miramax Sale Finally Done

Disney has reached an agreement to sell Miramax Films to Filmyard Holdings for more than $660 million. Though initial speculation focused on the studio either being bought back by its founders Bob and Harvey Weinstein or purchased by the billionaire Gores brothers, an investor group led by construction magnate Ron Tutor and Colony Capital have sealed the deal, which is set to close officially by the end of the year. The Filmyard Holdings group will gain a library of 700 films, as well as the Miramax name, development projects, and other related assets, though Disney will still distribute a few completed Miramax films in the coming year. Sorry, Harvey! [Variety]