The Walt Disney Company has agreed to sell Miramax Films to an investor group. The group has bought the company for $660 million.
Miramax will now be owned by Filmyard Holdings, a partnership between business magnate Ron Tutor and Colony Capital. Hollywood Reporter has also stated that actor Rob Lowe is involved as an investor with the sale.
Miramax Films is an art-house/independent film production company that both produced and distributed films including foreign films over its 31-year history. For its first 14 years the company was privately owned by its founders, Bob and Harvey Weinstein. In 1993 the company was acquired by The Walt Disney Company which operated it as a division of the Disney Company after the founders left.
Chicago, which won an Oscar for Best Picture in 2002, and Doubt released in 2008, were amongst the studio's theatre-related films.
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