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Qatar-based entertainment company beIn Media Group bought Miramax – originally launched in 1979 by Bob ad Harvey Weinstein – in 2016 from shareholders Qatar Investment Authority and Colony Capital.
There is no deal in place. The current Miramax leadership team will cont… ViacomCBS on Friday closed its acquisition of a 49 percent stake in Miramax, which has a library of 700-plus titles, including the likes of Pulp Fiction, Chicago, Scream, Good Will Hunting and No Country for Old Men, from BeIN Media Group in a $375 million deal. Paramount Pictures also entered into an exclusive, long-term distribution agreement for Miramax’s film library and an exclusive, long-term first-look agreement allowing Paramount Pictures to develop, produce, finance and distribute new film and television projects based on Miramax IP.
Los Angeles-based Miramax, which has been run by CEO Bill Block since April 2017, had been on the auction block for months. We want to hear from you. ViacomCBS' Paramount Pictures has also entered an exclusive, long-term distribution agreement for Miramax's film library and an exclusive, long-term first-look agreement allowing Paramount "to develop, produce, finance and distribute new film and television projects based on Miramax's IP.".
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ViacomCBS will gain access to Miramax's library of 700-plus titles, such as "Pulp Fiction," "Good Will Hunting," "Chicago" and "No Country for Old Men." The deal is expected to close in the first quarter of 2020. Data is a real-time snapshot *Data is delayed at least 15 minutes.
Among the studio's recent films are 2018's Halloween, co-produced with Blumhouse, which grossed $255 million worldwide.
ViacomCBS announced Friday that it is taking a 49% stake in Miramax for $375 million. Los Angeles-based Miramax, which has been run by CEO Bill Block since April 2017, had been on the auction block for months. ViacomCBS made a payment of approximately $150 million at closing and will invest $45 million annually over the next five years, for a total of $225 million, to provide funding for new film and television productions and working capital.
Bob Bakish, CEO, Viacom Scott Mlyn | CNBC ViacomCBS announced Friday that it is taking a 49% stake in Miramax for $375 million. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. ViacomCBS said the investment will lead to "new production and co-financing opportunities in film and TV," along with new distribution opportunities. Miramax was launched by Bob and Harvey Weinstein in 1979 and distributed titles like Steven Soderbergh's Sex, Lies, and Videotape. The current Miramax leadership team will continue in their existing roles. "This represents a major investment in and endorsement of our thriving Miramax business, which has grown in value under BeIN Media Group's ownership and has a fantastic future ahead with major new movies and unexploited premium dramas," said Nasser Al-Khelaifi, chairman of BeIN, at the time the deal was unveiled. Miramax is owned by Qatar-based international media company beIN Media Group, which will retain a 51% stake in Miramax. Andrew Cuomo Orders Schools In NYC’s Brooklyn Hotspots To Shut Tuesday In Reopening Setback, Cinema Shares Sink As Market Rallies; Hit By James Bond Delay, Cineworld/Regal Theater Closings, S&P Cuts AMC Entertainment Debt Rating, Says Chain Has Six Months Of Cash Unless It Raises Capital Or Attendance Improves, Returns To White House After Hospital Stay; Doctor Says POTUS In “Uncharted Territory’ With COVID-19, ‘Dune’ Drifts Away From Dec. To Fall 2021; ‘Batman’ Heads To 2022 & Other DC Moves, New Line Hits ‘Super High’, Hot Package Starring Craig Robinson, Andy Samberg & Common, Netflix Taps Out ‘GLOW’ As COVID Claims Final Season; ‘Teenage Bounty Hunters’ Also Ends. Sitemap | TWITTER
The company was later sold to Disney in 1993, with the Weinstein brothers leaving to form the Weinstein Co. in 2005. Copyright © 2020 Penske Business Media, LLC. Nasser Al-Khelaifi, Chairman beIN MEDIA GROUP, sagte: „Dies ist eine bedeutende Investition in unser florierendes MIRAMAX-Geschäft, das im Besitz der beIN MEDIA GROUP an Wert gewonnen und eine fantastische Zukunft vor sich hat.
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Viacom and CBS recently completed their merger.
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ViacomCBS and Paramount Pictures have resumed talks to acquire a stake in Miramax, two insiders familiar with the talks told Variety. ViacomCBS said that $150 million of the $375 million pricetag was paid at closing and it’s committed to invest $225 million – comprised of $45 million annually over the next five years – to be used for new film and television productions and working capital.
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Under the terms of the deal, ViacomCBS will pay beIN an upfront cash payment of $150 million, in addition to investing $45 million annually over the next five years for "new film and television productions and working capital.". Harvey Weinstein denies the allegations. © 2020 The Hollywood Reporter "Miramax’s current leadership team will continue in their existing roles," the companies said. The ViacomCBS deal was expected to close in the first quarter, but was wrapped up a few days after the end of the quarter.
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