beIN Media Group acquires Miramax

Miramax to continue operating as an independent film and television studio
BeIN Media Group acquires Miramax, News, Broadcast Business

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Qatar’s beIN Media Group has acquired 100% of Miramax.

Selling shareholders include Qatar Investment Authority and Colony Capital.

Nasser Al-Khelaïfi, chairman and CEO of beIN Media Group, said in a statement: “We are extremely excited to have achieved this key milestone within our strategy. Miramax is a successful film and television company, providing a strong and recognizable brand, a unique library and industry expertise that complement beIN Media Group’s plans to grow across the entertainment industry and develop new content production. As part of beIN Media Group, we will support Miramax in continuing to build this exciting platform. We very much look forward to working with the Miramax team.”

Thomas J. Barrack, Jr., founder of Colony Capital, said: “Miramax is one of the most iconic film brands in the world, housing a collection of the most celebrated and valued content libraries and management teams in Hollywood.

"Our sale to beIN will provide not only stewardship for these irreplaceable films but a best of class strategic owner focused on expansion of production and the betterment of the Miramax brand. We are fortunate to have found Nasser Al-Khelaïfi and beIN Media Group as the best of global class curator for the purpose of Miramax’s growth and continued legacy.”

Steve Schoch, CEO of Miramax said: “This is an exciting time in the evolution of our company, and we are thrilled to be a part of beIN MEDIA GROUP. Miramax’s growing 2016 slate is a testament to the incredible work of the team thus far to build on the proud Miramax legacy. In concert with beIN leadership, we look forward to further expanding our film and television output, broadening our distribution capabilities and fortifying our position as the premiere independent studio brand.”

In 2016, Miramax will invest in and co-distribute several upcoming feature films including Bad Santa 2, Bidget Jone’s Baby, Southside With You, and The 9th life of Louis Drax, as well as the television show “From Dusk Till Dawn: The Series” heading into its third season. Last year Miramax’s slate included the critically acclaimed Mr. Holmes, one of the year’s most successful independent films, and the comedy hit The Wedding Ringer.

Miramax’s library holds over 700 titles that collectively have garnered 278 Academy Award nominations and 68 Oscars, including Best Picture winners The English Patient, Shakespeare in Love, Chicago and No Country for Old Men.
 

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