Disney Sold The Film Studio Miramax

Entertainment giant Walt Disney has announced the sale of its Miramax film division for about $ 660 for a group of private investors.

Investors, Filmyard, includes the construction magnate Ron Tutor and investment firm Colony Capital.

Disney is in talks with potential buyers for several months to sell the unit, which has made such films as “Pulp Fiction” and “Shakespeare in Love.”

Earlier this week, Disney bought the game developer of social Playdom.
“Although we are very proud of the many accomplishments of Miramax, our current strategy for Walt Disney Studios, we focus on the development of a large picture of the motion in accordance with Disney, Pixar and Marvel brands,” Disney CEO Robert Iger said.

Disney wants to focus on these family-oriented units, which produce popular films such as “Toy Story”, which also carry a very profitable opportunities merchandising.

“Disney was a very clever film with its strategy,” media analyst Theresa Wise told BBC World Business Report.

“One of the biggest problems with the movie are very few films break even … so they need other income. Disney has a fantastic opportunity to sell the family movies, and all the goods that come along with him.

Disney owns Miramax in 1993, when he bought the company from Hollywood heavyweight Harvey and Bob Weinstein.

Weinstein brothers, who recently tried to buy him at Disney, called the film company after their parents Miriam and Max.