Disney sells Miramax to investor for $660 million
By The Associated Press
This article was published July 30, 2010 at 7:39 a.m.
LOS ANGELES — The Walt Disney Co. says it will sell Miramax Films to an investor group for about $660 million, ending a 17-year association with the studio and a six-month bidding process.
The New York Times and Los Angeles times report that Disney signed the agreement late Thursday with Filmyard Holding. The investor group is led by construction magnate Ronald Tutor.
Tutor and his partners put down a nonrefundable deposit of $40 million to Disney on Thursday.
Disney had been looking to sell Miramax amid a studio overhaul because it no longer resonated with its other family centric studio units such as Pixar and Marvel.
Miramax’s Oscar-laden film library is full of prestigious films such as “My Left Foot” (1989), “Pulp Fiction” (1994) and “Good Will Hunting” (1997).
Comments on: Disney sells Miramax to investor for $660 million
To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.
You must login to make comments.