Confirming the agreement in principle announced earlier this month (see blu-ray.com,
July 9), Walt Disney Co. has finalized a deal to sell its Miramax Films unit, including its library, for over $660 million. The buyer is Filmyard Holding, an investor group led by Los Angeles construction magnate Ron Tutor. Filmyard Holding has not yet detailed its plans for the Blu-ray release of Miramax catalog films.
"Although we are very proud of Miramax's many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands," said Robert A. Iger, Disney's President and CEO. "We are delighted that we have found a home for the Miramax brand and Miramax's very highly regarded motion picture library."
"I am delighted and honored to acquire the Miramax library," said Ron Tutor. "On behalf of my partners Tom Barrack and Colony Capital, we look forward to sharing this high quality content with the world in every form of media for many years to come."
The Miramax library includes many acclaimed and Academy-award winning titles, such as
Pulp Fiction,
Shakespeare in Love and
The English Patient, as well as major foreign-language titles such as
Life Is Beautiful and
Amélie.