Miramax has a new owner
After more than six months of sales rumors, Miramax, the studio founded by Bob and Harvey Weinstein, has been acquired by Qatar-based beIN Media Group. The deal includes 100 percent of the famed indie studio, notably their catalog of more than 700 films, such as Shakespeare in Love and No Country for Old Men.
Miramax was sold by an investment group led by Qatar Investment Authority and Colony Capital, which purchased the studio from Disney in 2010 for approximately $660 million. News began circulating last summer that the studio was being shopped around to potential buyers at a reported cost of $1 billion. It’s unknown at this time how much beIN actually paid for the distributor.
“Miramax is a successful film and television company, providing a strong and recognizable brand, a unique library and industry expertise that complement beIN Media Group’s plans to grow across the entertainment industry and develop new content production,” said Nasser Al-Khelaïfi, chairman and CEO of beIN. “We will support Miramax in continuing to build this exciting platform.”
Already in the pipeline for Miramax is the young Obamas Sundance hit, Southside with You, as well as Bridget Jones’ Baby, and Bad Santa 2.