Miramax Sale From Disney Final

POSTED: Mon, 01/10/2011 - 13:01 | POSTED BY: Melinda Gregory

Whatever ties that bound Disney to Miramax were severed as of December 4, 2010. That date reflected the closing of the sale of Miramax to a group of investors that included Colony Capital, Qatar holding and Ron Tutor for some $663 million.

What's next for the company who brought such notable and award-winning hits as "Shakespeare in Love" and "Chicago" to the big screen? A review over the next year or so of the 300 projects that were already in progress at the time of the sale. The company also will be looking at the 90 book titles they have rights to as well as how to best utilize a film library comprised of over 700 movies.

As far as staffing, Mike Lang will take over as the new CEO. Miramax also anticipates hiring some 60-80 new staff, but the top creative positions will remain open for the time being as ongoing projects are being sorted out.

The Weinstein brothers, Harvey and Bob, founded Miramax over 30 years ago and sold the company to Disney in 1993.

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