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  Toonami Infolink :: View topic - Miramax to leave Disney?
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Miramax to leave Disney?

 
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Daikun

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Joined: Nov 02, 2002
Post subject: Miramax to leave Disney?
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Just a few days after selling Michael Moore's controversial documentary Fahrenheit 9/11 to Miramax, The Walt Disney Co. says it might be willing to sell its Miramax film unit back to its founders, Harvey and Bob Weinstein, The New York Times reported Monday.

According to the report, Disney head Michael Eisner has butted heads with the Weinsteins on many issues, with Moore's film just the latest in a string of disagreements.

The future of the division was discussed at a two-day retreat for Disney directors and also by Eisner at a dinner with friends in New York, where he reportedly told people he didn't think the Weinsteins could raise the cash to buy the film unit, the report said.

The going price for Miramax? According to the report, it could fetch as much as $2 billion.

But a senior Disney exec told the Times that Miramax, which Disney bought in 1993 for $80 million, is not for sale, but that the company must consider what is in everyone's best interest.

Among some other issues driving a wedge between Eisner and the brothers Weinstein are contract negotiations regarding salary and the brothers' attempts to get away from Disney's strict corporate structure.

The Weinsteins' contract with Disney's Miramax expires in 2005. The pair reportedly is demanding more money than they are making and an audit of Disney's books, the report said.


http://losangeles.bizjournals.com/losangeles/stories/2004/06/07/daily11.html

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PostMon Jun 07, 2004 5:24 pm
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