Miramax and The Weinstein Company Announce Multi-Year Deal
Miramax and The Weinstein Company (TWC) announced today a multi-year, multi-title film, television and live stage co-production and co-distribution agreement involving library- derived and original development projects covering some of the most iconic titles in the Miramax library.
Films created under this partnership will be released in the United States by TWC and sold in the international marketplace by Miramax, and could include derivative works of some of the most recognized titles in the Miramax library from Swingers to Shakespeare in Love in addition to new titles currently in development.
The partnership also includes the development of several television series based on Miramax titles such as "Good Will Hunting" and "Flirting with Disaster," with Miramax to lead international distribution and team with TWC domestically.
The multi-year deal is the next important step in Miramax's commitment to creating new, original content, supporting the studio's return to prominence as a major supplier of smart, provocative, quality entertainment.
Acquired on the eve of the entertainment industry's digital distribution boom in 2010 by Qatar Holding, together with the investor group led by Thomas J. Barrack, Jr.'s Colony Capital, Miramax has enjoyed tremendous success in bringing this celebrated library to audiences around the world through a global distribution capability that reaches nearly every country in the world, and has proven in the last three years to be one of the most valuable libraries in film history-a clear testament to the incredible content picking instincts of the Weinsteins since founding Miramax in 1979.
"Qatar Holding fully supports this exciting development for Miramax, as part of a long-term strategy to further enhance the value in the company's extensive catalogue of material. By securing an agreement between Miramax and The Weinstein Company, the deal brings together two of the best-known names in the film industry to provide a dynamic partnership which will take Miramax to the next stage in its journey," Qatar Holding said.
"As some of the greatest independent filmmakers in history, Harvey and Bob built Miramax into one of the most recognizable and powerful brands in Hollywood. The iconic library they created has enabled us to capture the value of the digital distribution revolution and harvest revenue far greater than we ever imagined," said Thomas J. Barrack Jr., Founder, Chairman and CEO of Colony Capital, LLC and Chairman of the Board of Miramax.
"Reuniting Harvey and Bob with the acres of cinematic diamonds that is the Miramax library, and combining the two companies' powerful distribution capabilities, will create an unparalleled partnership in cinematic excellence," Barrack added.
"This is an amazing opportunity to reunite us with the company named after our parents Miriam and Max. We salute Qatar Holding and Tom Barrack of Colony Capital for joining forces in this most exciting of endeavors. From movies to TV shows to the Broadway stage they have reinvigorated Miramax productions and to have the Miramax banner fly once again is a dream come true for all of us," says Harvey and Bob Weinstein, Co-Chairmen of The Weinstein Company.
Miriam Weinstein (Harvey and Bob's mother) said, "Over the years Bob and Harvey have never let me talk although I would have done better than them, after all I am a Jewish mother. I want to thank Tom Barrack, Colony Capital, and Qatar Holding for bringing Miramax actively back into my life and making a dream come true. No one would be happier than Harvey and Bob's late father, Max. This is truly a lucky partnership for all involved, for filmmakers and hopefully lucky for filmgoers all over the world."
Miramax and TWC anticipate the first productions will start in early to mid- 2014. Predating this agreement was Miramax's development of several IP- derived TV series including Robert Rodriguez's 'From Dusk Till Dawn,' which is currently in production, James Mangold's "Copland" and Martin Scorsese's "Gangs of New York." Miramax and Sony's Screen Gems also just wrapped shooting of Jeremy Garelick's The Wedding Ringer.
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