After months of contentious negotiations, Miramax co-founders Bob and Harvey Weinstein will leave the Walt Disney Co. in September to launch their own film distribution company, Disney and the Weinsteins said Tuesday.
Disney will announce new management for Miramax in July, the company said.
The long-anticipated settlement ends one of the most tumultuous relationships in Hollywood.
Disney will retain the Miramax name, which the Weinsteins coined by combining the names of their parents Miriam and Max, and the Miramax and Dimension film libraries. The Weinsteins will retain the Dimension film label and receive an undisclosed sum of cash. They will also share with Disney certain existing high-profile projects.
The brothers plan to form a new company to be called the Weinstein Co.
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