Salon.com > Miramax Films

Disney completes $663 million sale of Miramax

Sat, 04 Dec 2010 00:45:00 +0000

Construction magnate Ron Tutor can now call himself a Hollywood mogul.

The chief executive of Tutor-Saliba Corp. confirmed Friday that the group of investors he leads completed its deal to buy the award-laden studio Miramax Films from The Walt Disney Co.

Disney said the sale to Filmyard Holdings LLC was for $663 million, subject to certain adjustments. Filmyard's investors include Tutor, real estate investment group Colony Capital LLC and its CEO Tom Barrack and Qatar Holding LLC, the Middle Eastern country's investment firm.

The deal was announced in July, but its closing was delayed amid concerns about bank financing.

Tutor on Friday told The Associated Press that Barclays PLC was the lead bank in the financing.

"Everybody's smiling," he said. "We're excited, moving forward."

Mike Lang, a former business development executive at New Corp., has been hired as Miramax's new chief executive, Tutor said. He added that he would be more at liberty to talk about plans for the studio next week.

Miramax was founded in 1979 by Harvey and Bob Weinstein and named after their parents Miriam and Max. The studio is behind a string of Oscar winners including "Shakespeare in Love" (1998), "Chicago" (2002) and "No Country for Old Men" (2007).

The undignified near-death of Miramax

Thu, 05 Nov 2009 01:05:00 +0000

It seems to me that if I were the owner of the only independent-film distributor the general public has ever noticed or cared about, the company that brought the world "Pulp Fiction," "The Crying Game," "sex, lies, and videotape," "The English Patient," "Shakespeare in Love," "Chicago," "The Queen" and "No Country for Old Men," I might try to cash in on that brand name in perpetuity by making or selling some really good movies. Fortunately for all concerned, I am not the owner of Miramax Films, and in recent days the once-mighty indie empire founded by Bob and Harvey Weinstein in 1979 has reached the end of the road, or pretty nearly so.

Queen Amilambada

Mon, 15 May 2000 16:00:00 +0000

Thought "Dirty Dancing" was as much a thing of the past as Jennifer Grey's old nose? Think again.

Last week, at the Cannes Film Festival, Artisan Entertainment and Miramax Films announced plans to make "Dirty Dancing 2," a sequel to the 1987 flick that had us all humming "(I've Had) The Time of My Life" for way too long.

But don't expect a nostalgic trip back to the Catskills, circa 1963. Oh no. This time the action will take place in present-day South Beach and be spiked with a Latin Miami twist.

According to Variety, Ricky Martin and Natalie Portman are in talks to reprise Patrick Swayze and Grey's twinkle-toed roles. It's also rumored that Swayze will make a cameo appearance.

So why the Forbidden Dance? Why now? "'Dirty Dancing' is a cultural touchstone and a phenomenal franchise property," opined Miramax co-chairman Harvey Weinstein.

Just so long as the Lambada doesn't make a comeback.

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Holy Father

"He thinks this makes him God."

-- Jeremy Sisto on why his father's tickled to bits that he landed the role of Jesus in a CBS miniseries.