Disney Divests Miramax

Disney Studios is hunkering down and regrouping, and just announced the sale of Miramax to private investors.  It’s said that Ronald Tutor, a California billionaire, is the buyer along with his partners Morgan Creek, Colony Capital, and David Bergstein.  Miramax was founded by Hollywood heavyweights Bob and Harvey Weinstein, who ran the studio until 2005 even though Disney purchased it in 1993.  Colony Capital is known for their real estate investments, including Michael Jackson’s Neverland Ranch and Morgan Creek is a minor studio with hits such as Ace Ventura: Pet Detective.

Miramax expanded the Disney brand in a more adult direction, distributing darker, more independent fare such as Pulp Fiction and Clerks.  I don’t think anyone’s surprised at the sale, since just last October they had a major layoff and Disney had announced Miramax would only be doing three films per year.  I wonder if the sale means Disney’s going back to it’s family friendly roots, with their new line of maternity clothes and new Disney Junior channel?