by leunames » Fri Jul 30, 2010 1:14 pm
Hold back those letters to disney; Mirimax is no longer theirs as of Sept.
[quote]The Walt Disney Company agreed late Thursday to sell Miramax Films to an investor group for about $660 million.
Disney agreed to the sale after a construction magnate, Ronald N. Tutor, and his allies paid a nonrefundable $40 million deposit and presented a financing plan.
Disney said the transaction, which is subject to certain regulatory approvals, was expected to close between Sept. 10 and the end of the year. “Although we are very proud of Miramax’s many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands,â€