Film studio Miramax explores sale: sources

Fri Jul 17, 2015 7:13pm EDT
 
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By Liana B. Baker

(Reuters) - Privately-held Miramax, which owns the rights to hundreds of Hollywood films including "Bridget Jones' Diary" and "The English Patient," is exploring strategic alternatives including a potential sale, according to people familiar with the matter.

The Santa Monica, California-based company is speaking to financial advisers about its options, according to the people, who could not be named because the matter is private.

Bloomberg, which first reported the news Friday, said the company could be valued as high as $1 billion. A spokesman for Miramax declined to comment.

An investor group including Qatar Holding and Thomas J. Barrack Jr.'s investment firm Colony Capital bought the company from Disney DIS.N in 2010 for $660 million.

While the company is best known for its extensive film library, it now has started to distribute new movies, including independent film "Mr. Holmes," starring Sir Ian McKellen and Laura Linney which was released on Friday.

It also produces a TV show called "From Dusk Till Dawn" which is based on the 1996 Robert Rodriguez film.

Miramax was founded in 1979 by Bob and Harvey Weinstein.

(Reporting by Liana B. Baker; Editing by Andrew Hay)

 
Actor Ian McKellen arrives for a screening of the movie 'Mr. Holmes' at the 65th Berlinale International Film Festival, in Berlin February 8, 2015.  REUTERS/Stefanie Loos