It’s Official! Disney Sells Miramax to Tutor’s Group

Walt Disney Co. late yesterday reached an agreement to sell Miramax Films to an investor group led by construction magnate Ron Tutor and Colony Capital. Deal calls for the group, dubbed Filmyard Holdings, to pay more than $660 million — subject to certain adjustments, per Disney — for the rights to 700 library titles, plus the Miramax name, books, development projects and other assets. Deal is expected to close between Sept. 10 and the end of the year. Disney will handle distribution of a handful of completed Miramax pics that have yet to be released, an arrangement that may be in place for up to a year after the transaction is completed.

http://www.variety.com/article/VR1118022384.html?categoryId=4026&cs=1

TWITTER | DIGG | EMAIL