BeIn Media Group hopeful of Miramax acquisition

Qatari broadcaster aims to continue with aggressive growth plans
Acquisition, BeIn Media Group, Buy, Buys, Film, Miramax, Qatar, Studio, News, Broadcast Business


According to a recent Reuters report, BeIn Media Group is optimistic that it can reach an agreement to buy Californian film studio Miramax, according to the Qatari firm's deputy chief executive.

Yousef al-Obaidly, deputy CEO of state-owned Bein Media Group, told Reuters: "We are optimistic. I think you might hear something on this in the short-term."

Privately-held Miramax - which owns the rights to hundreds of Hollywood films including Bridget Jones' Diary and The English Patient - has apparently been exploring a potential sale since July last year.

A group of investors including Qatar Holding and Thomas J. Barrack Jr.'s investment firm Colony Capital purchased Miramax from Disney in 2010 for $660 million.

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