Miramax , Disney

LOS ANGELES/BANGALORE : Film studio Miramax has been sold over to Filmyard Holding LLC for more than $660 million. Disney says that Ron Tutor, Construction magnate, an investment company Colony Capital LLC are also part of the buyers of the studio.

Miramax has delivered excellent movies ver the course of time, including ‘Chicago’ and ‘Shakespeare in love’. The rights for all its 700 movies have been sold along with the film studio.

It has been a long time thogh that Miramax has produced classy like ‘Pulp Fiction’ and ‘Chicago’. The latest it could reach out was with ‘Doubt’.

“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 Disney Chief Executive Robert Iger.

Disney has plans to concentrate on franchise films like “Pirates of the Caribbean”.

“It turns the page on Disney’s foray into non-Disney branded films and completes their focus on franchise properties.

They’re also finding promising areas of growth in new media, especially in areas where they can monetize Disney properties,” said analyst with Gabelli & Co., Chris Marangi.