Walt Disney Co., in the middle of a messy public divorce from Miramax co-chairmen Harvey and Bob Weinstein, said it expects a new direction from the art house filmmaker next year.
Come September, Disney can exercise a clause terminating the contract of the studio's co-founders before the end of their current contract in 2009. While Disney President Robert Iger said the company is still negotiating with the Weinsteins, in its 10k filing with the Securities and Exchange Commission filing there are indications Disney is looking at life beyond the Weinsteins.
The $30 billion entertainment giant is "unable to determine whether (Miramax) projects currently in progress may be abandoned or otherwise impaired and whether there will be any material charges," the filing said.
Disney acquired Miramax in 1993 for $79 million in 1993, and the studio has generated both profits and Oscars for its parent. Disney has been looking for less-expensive flicks under the Disney, rather than Miramax, banner.
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