Miramax is one of the most prestigious entertainment companies in the world. The company has over 700 motion pictures that are award winning. Collectively, the library has received 284 Academy Award nominations and 68 Oscars, including four Best Picture Awards.
History
Brothers Harvey and Bob Weinstein in Buffalo, New York founded Miramax in 1979. The name of the company was formed using the first names of their parents Max and Miriam. Miramax was originally created to distribute independent films categorized as commercially unworkable by the big studios. The company’s first obtained success when the Weinstein brothers partnered with British producer Martin Lewis and acquired the U.S. rights to two concert films he had produced. The shows were produced to benefit Amnesty International, a human rights organization. In 1993, the Walt Disney Company purchased Miramax for $60 million dollars. On December 3, 2010 Disney sold Miramax to Filmyard Holdings which is owned by Colony Capital, for $663 million dollars. The company has since stood on its own as an entertainment production company.
Recent January 2012-Present
The co-owner of Miramax, Colony Capital, failed to acquire Summit Entertainment. Colony Capital planned to merge it with Miramax, to create a studio with 700 classic specialty titles in its library that would include the Twilight franchise, a foreign sales operation and the ability to produce and distribute its own pictures.
Miramax CEO Mike Lang Explains His Focus on Digital Marketing
MiraMax College Tour
In early February Miramax launched it’s new college tour with its introductory event being held in Santa Monica at Loyola Marymount University. Miramax’s classic film Good Will Hunting was screened for students and was followed by a question and answer with producer Chris Moore. The tour continued to the University of Colorado at Boulder to present another Miramax classic, Jackie Brown, directed by Quentin Tarantino. The question and answer session at this screening had the star of the film Pam Grier present.
“We started the College Tour as a way to share our films with a new generation of film lovers and expose them to some modern classics that are just as relevant today as when they were first released. It is also a wonderful opportunity for young student filmmakers at colleges and universities across America to connect with first class talent in a very candid and open environment.”– Tommy Moreno, Senior Vice President, Operations
Former Miramax CEO Mike Lang
Shortly after Miramax’s chief executive Mike Lang abruptly exited the company after only one year at the position. Lang released this statement: “I’ve enjoyed my time at Miramax. The company has a great team, and I remain highly supportive of Miramax and its opportunities ahead. I wish the team continued success.” It is still unclear why Lang left the company. Steve Schoch, Miramax CFO, will serve as interim CEO until the position is filled.
Post Mike Lang
On March 29th, Miramax announced the expansion of their global sales team. Miramax made two new hires, Mathilde Rottier, Stuart Shaw, Astrid De Berardinis and Alexandra Tullberg. Mathilde Rottier will be the Vice President of the global sales team, Stuart Shaw, Astris De Berardinis and Alexandra Tullberg as Directors of Sales. The hires were made because of the high demand for Miramax content in new regions such as the Middle East and Asia. “We are also pleased to continue the expansion of our London office with the additions of Alexandra, Astrid and Stuart. They will serve as key sales liaisons with European and Middle Eastern providers as we introduce our lasting and modern films to many territories for the first time.” said Joe Patrick, Head of Worldwide Sales at Miramax.
Miramax added another broadcaster to its licensed content list. British multichannel broadcaster UKTV made an agreement with Miramax in which a number of Studio hit films will be made available to UKTV subscribers in the UK and Ireland across its basic pay and DTT channels.
Miramax made another deal TV platform. The company announced on April 1st that that it has made a deal with Sky Italia in which Sky Italia will show many of Miramax’s collection on the company’s pay television channels in Italy. “The Miramax library offers hit movies in every genre, from action-adventure and horror to comedy and family films – and a vast array of award-winning dramas. We are pleased to continue developing alliances around the globe and that the Miramax films will continue to be available in the Italian market through Sky Italia’s fantastic service.”, said Danny Goldman, Miramax’s Senior Vice President and Head of Sales in Europe.
Legal Dispute
Miramax’s parent company Filmyard Holdings LLC was sued by David Bergstein who claimed he was owed 6 million dollars and 3.3 percent equity in Miramax. Bergstein claims he orchestrated the Colony Capital led purchase of Miramax from The Walt Disney Company. The number that Bergstein is claiming he is owed is worth more than twenty million dollars. The suit was settled outside of court three weeks later, but details of the settlement’s amount was not released.
References
(1) Miramax Film Corporation
http://www.fundinguniverse.com/company-histories/Miramax-Film-Corporation-company-History.html
(2) Miramax Blog
http://www.miramax.com/blog/
(3) Miramax CEO Unexpectedly Resigns: Los Angles Times
http://latimesblogs.latimes.com/entertainmentnewsbuzz/2012/03/miramax-ceo-mike-lang-unexpectedly-resigns.html
(4) Miramax to License Samuel Goldwyn Film Library
http://www.hollywoodreporter.com/news/miramax-samuel-goldwyn-film-library-licensing-deal-306788
(5) Miramax inks UKTV pact: International sales arm expanded
http://articles.chicagotribune.com/2012-03-29/entertainment/sns-201203290825reedbusivarietynvr1118052044mar29_1_miramax-inks-channels
(6) Miramax Owner Settles David Bergstein Lawsuit
http://www.hollywoodreporter.com/thr-esq/miramax-david-bergstein-lawsuit-315620
(7) Miramax College Tour
http://www.miramax.com/2012/02/15/miramax-college-tour-cu-boulder-2/
(8) Goldsmith, Jill (April 2, 2012).
http://www.variety.com/article/VR1118052165?refCatId=13
(9) BT Vision and Miramax Sign On Demand Movie Deal
http://eon.businesswire.com/news/eon/20120131005592/en