Qatar-backed Miramax said to explore sale deal

Hollywood studio part owned by the Qatar Investment Authority has reportedly already held talks with potential buyer
Qatar-backed Miramax said to explore sale deal
By Staff writer
Mon 20 Jul 2015 01:55 PM

Investors behind Miramax, the Hollywood studio part owned by the Qatar Investment Authority, are reportedly exploring a sale, it was reported on Monday.

Bloomberg reported that the studio that owns Oscar winners Shakespeare in Love and Pulp Fiction, has already held talks with one potential buyer, citing people with knowledge of the matter.

Miramax, which owns more than 700 films, could fetch as much as $1 billion, Bloomberg reported.

Founded in 1979 by brothers Harvey and Bon Weinstein, Miramax was sold to the Walt Disney Co in 1993. It was subsequently sold in 2010 to investors that included the Qatar Investment Authority and real estate investment firm Colony Capital, in a deal reportedly worth around $663m.

The film industry is experiencing a resurgence, with 2015 expected to be a record year at the US box office.

Kat Kleiner, a spokeswoman for Miramax, and Kristin Celauro, a spokeswoman for Colony Capital, declined to comment while a representative for Qatar Holding didn’t respond to a request for comment, Bloomberg added.

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