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Disney Sells Off Miramax For $660 Million

Disney Sells Off Miramax

Disney Sells Off Miramax

Disney Sells Off Miramax For $660 Million. Walt Disney has parted ways with its studio, Miramax Films, for $660 million after a six-month long bidding process. The agreement was signed between Walt Disney Co. and Filmyard Holding, led by Hollywood outsider and construction tycoon Ronald Tutor.¬†Disney has owned Miramax for 17 years before deciding to sell it off after executives felt the studio no longer gelled together with Disney’s other, family-centric, studios, Pixar and Marvel. The Miramax film library boasts hits such as “My Left Foot” (1989), “Pulp Fiction” (1994) and “Good Will Hunting” (1997). Harvey and Bob Weinstein founded Miramax in 1979 and sold it to Disney after 14 years for $80 million. Disney shares were down on the news in New York.

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