Disney Finally Sells Miramax

A group of investors led by Ronald Tutor has come to an agreement with the Disney company to buy Miramax for $660 million, ending six months of bidding:

Mr. Tutor, who is the chief executive of the Tutor Perini Corporation, and Thomas J. Barrack, the chief executive of Colony Capital, a private equity firm, bought Miramax through a company called Filmyard Holdings. In a statement, Mr. Tutor said he was “delighted” with the purchase, adding, “We look forward to sharing this high-quality content with the world in every form of media for many years to come.”

Miramax’s “high-quality content” includes the slew of art-house movies that the Weinstein brothers made into mainstream hits in the 1990s, like Pulp Fiction and Shakespeare in Love. Although the brothers failed to take back control of their company, they remain a sulky presence for the new owners to contend with. Reports The Times, “it remained unclear how Mr. Tutor’s group planned to deal with the Weinstein presence, given the brothers’ clear chagrin at not having prevailed in the bidding.”

Disney Finally Sells Miramax