Founded in 1979 by Harvey and Robert Weinstein to make and distribute independent films, Miramax —a Walt Disney Company possession for a time— is now qatari. Doha-based groupe beIN Media has announced on Wednesday that it has acquired the American studio.
Up until now, Miramax was the property of two hedge funds —Qatar Investment Authority and Colony Capital. They had bought it from Disney in 2010 for $660 million. Business newspaper Les Échos reports that they had wanted to sell it for the past year.
The amount of the transaction hasn’t been disclosed.
No change in activity
The CEO of beIN Media —and president of Paris Saint-Germain football team—, Nasser Al-Khelaïfi, said that the studio would keep functioning as it is now: remain a independent TV and cinema studio.
By taking over Miramax, beIN Media has its hands on a catalogue of more than 700 that total 68 Oscars. They include Shakespeare in Love, Pulp Fiction, No Country for Old Men, Will Hunting, The English Patient, Reservoir Dogs and Pulp Fiction among others
« Miramax is a successful film and television company, providing a strong and recognizable brand, a unique library and industry expertise that complement beIN Media group’s plans to grow across the entertainment industry and develop new content production. As part of beIN Media group, we will support Miramax in continuing to build this exciting platform. », Nasser Al-Khelaïfi added.
© Bridget Jones diary / Miramax