Weinsteins reunite with Miramax on development deal
The Weinstein Company and Miramax have agreed to a multi-year, co-production, co-distribution deal that reunites Harvey and Bob Weinstein with the onetime powerhouse company they built, sold for millions to Disney, and reluctantly lost after an ugly divorce from Disney.
Under the new deal, the two companies will collaborate to develop film, television, and stage projects based on some of the most popular properties in the Miramax library, including Good Will Hunting and Flirting With Disaster.
“This is an amazing opportunity to reunite us with the company named after our parents Miriam and Max,” Harvey and Bob Weinstein said in a statement. “We salute Qatar Holding and Tom Barrack of Colony Capital for joining forces in this most exciting of endeavors. From movies to TV shows to the Broadway stage they have reinvigorated Miramax productions and to have the Miramax banner fly once again is a dream come true for all of us.”
“Reuniting Harvey with the acres of cinematic diamonds that is the Miramax library, and combining the two companies’ powerful distribution capabilities, will create an unparalleled partnership in cinematic excellence,” said Thomas J. Barrack Jr., Miramax’s chairman of the board.
Movies developed cooperatively under this new agreement will be distributed in the U.S. by TWC and internationally by Miramax.
The Weinsteins founded Miramax in 1979, and helped reinvent Hollywood at the same time that the Sundance Film Festival rose to prominence. With films like Sex, Lies, and Videotape, The Crying Game, Pulp Fiction, and Clerks, Miramax cultivated young, talented filmmakers, brought independent film into the multiplexes, and went toe-to-toe with the major studios at the Academy Awards. In 1993, the brothers sold their company to Disney for $65 million, but it was a poor match from the start. The Weinsteins blanched under the Mouse’s tight control, with films like Michael Morre’s Fahrenheit 9/11 becoming notable flashpoints in constant feuds. In 2005, the Weinsteins and Disney parted ways, with Disney keeping the Miramax name, and the brothers ultimately setting up The Weinstein Company. Miramax quickly foundered, and Disney sold the gutted Miramax in 2010 for $660 million, the value being entirely in the studio’s library of hits, like Shakespeare in Love and Pulp Fiction.