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Monday, May 23, 2022

Disney Said To Be Seeking Miramax Buyer

Walt Disney Co. has been quietly shopping what remains of its Miramax film unit and has attracted seven to 10 interested bidders, according to a mergers and acquisitions expert with knowledge of the process.

The initial discussions indicate a price of over $700 million for the Miramax name and its 700-film library, including films like “Pulp Fiction” and “Shakespeare in Love,” which is essentially all that remains of the once-mighty art house label. Interest is sharply higher than a year ago, when Disney briefly floated a Miramax sale before reconsidering because of the recession, and has been helped by a loosening of the credit markets.

Harvey Weinstein and Bob Weinstein, who founded Miramax in 1979, are not among the bidders — so far. The Weinstein brothers sold Miramax to Disney in 1993 but ran it until 2005, when they left to found the Weinstein Company.

Read the full New York Times story.

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