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Disney Sells Miramax For $660 MILLION!

| Filed under: Film FlickersDisneyBusiness Blitz


It's a done deal!

Disney announced yesterday that they have sold Miramax Films to Filmyard Holdings LLC - and its partners Ron Tutor and Tom Barrack - for a whopping $660 million!

The deal should go through sometime between September and January of 2011.

Disney President and CEO Bob Iger says:

"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. We are delighted that we have found a home for the Miramax brand and Miramax's very highly regarded motion picture library.”

And Ron Tutor elaborates:

“I am delighted and honored to acquire the Miramax library. On behalf of my partners Tom Barrack and Colony Capital, we look forward to sharing this high quality content with the world in every form of media for many years to come.”

Big switch up! We wonder what this will mean for Miramax and its current employees!

What do U think??

[Image via WENN.]

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2 comments to “Disney Sells Miramax For $660 MILLION!”

  1. 1

    I really just want to be the only person to comment on this one… Since its already 3:00 and clearly nobody cares…

  2. 2

    Re: Viva LaChapelle – I care.. Of couurse this means more money for stupid big budget animated/cgi-ed remakes and comic book movies. Miramax is worth more than this! I hate how no one cares about original content, real drama, real art, real movies!