According to the LA Times the Weinstein brothers and the Walt Disney Company has agreed to the details of their upcoming split. Sadly the brothers will have to give up the name that was derived from the names of their parents. I’m sure they’ll get over it. Hundreds of other company founders have.
Miramax will continue to exist as a part of the Walt Disney Company. It will return to producing mainly art films with a smaller budget and under the watchful eye of the the Studio bosses. I very much hope that the spirit of Miramax is not totally lost in the change. The company is known for taking chances with subject material other studios wouldn’t touch.
The Harvey and Bob Weinstein are not leaving this deal empty handed. Aside from the money they have already made they do get a fairly nice parking package. They have already announced their intentions to continue making films. Now they’ll just have to do it with their own money or money they can raise personally. They stated they back their films 100%, now they get a chance to put their money where their mouths are. I have no doubt they will continue to be a force in the entertainment industry.
This looks to be the first in a number of deals that were waiting to go through until Eisner’s successor was known. Following soon is Pixar, ESPN vs. various cable companies, and other deals that have been on hold. I’m keeping my fingers crossed Iger and Jobs can reach some sort of agreement that is beneficial for all parties.