Disney Sells Miramax for $660 Million

Walt Disney Co. has opted to sell Miramax Films to a group of private investors for $660 million.

Disney had been looking to unload Miramax since January – as they felt obliged to focus on more in their family centric studio units including Marvel and Pixar. According to reports

Disney President and CEO Robert Iger to press, “Although we are very proud of Miramax’s many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands.”

“We are delighted that we have found a home for the Miramax brand and Miramax’s very highly regarded motion picture library.” He added