Disney in Talks to Let Harvey Weinstein Leave -NYT
Tue Aug 10, 3:13 AM ET Add Entertainment - Reuters to My Yahoo!
NEW YORK (Reuters) - Walt Disney Co. and its Miramax Films unit, which is run by Harvey and Bob Weinstein, are expected to meet this week to discuss letting Harvey Weinstein start a production company, and his brother remain at Disney to make movies, the New York Times said on Tuesday.
• Disney in Talks on Independence for a Weinstein (New York Times)
Citing unidentified people involved in the talks, the newspaper said an agreement is not expected this week, and the sides are far apart on several big issues, but the progress shows that both sides recognize the importance of maintaining a successful relationship, the newspaper said.
The two sides would like to reach an agreement before Disney's fiscal year starts on Oct. 1, it said, citing several people involved in the talks.
Disney, based in Burbank, California, bought New York-based Miramax in 1993 from the Weinsteins, the studio's co-founders. Miramax's recent movies include "Chicago," "Cold Mountain" and "Kill Bill."
Under an agreement being negotiated, Disney might give Bob Weinstein a four-year contract, a small staff and a $300 million to $350 million annual budget to make four to six movies under his Dimension Films banner, the newspaper said, citing two people involved in the negotiations.
Dimension, a unit of Miramax, produces highly profitable film franchises such as the "Scream," "Scary Movie" and "Spy Kids" series.
Harvey Weinstein would become an independent producer, and secure financing for movies to be distributed by Bob Weinstein, the newspaper said. Disney might license the Miramax name back to Harvey Weinstein, but only for movie projects, it said, citing the two people.
Miramax's film library would not be for sale. There remains a 60 percent chance the Weinsteins might leave Disney, the newspaper said, citing a senior person involved in the talks.
Miramax plans to lay off at least 120 people as soon as this week, a person familiar with the matter told Reuters on Monday. The cuts reflect that the studio has too many people for a reduced number of projects, and are not being implemented at the behest of Disney, the person said.
Reuters/VNU
Tue Aug 10, 3:13 AM ET Add Entertainment - Reuters to My Yahoo!
NEW YORK (Reuters) - Walt Disney Co. and its Miramax Films unit, which is run by Harvey and Bob Weinstein, are expected to meet this week to discuss letting Harvey Weinstein start a production company, and his brother remain at Disney to make movies, the New York Times said on Tuesday.
• Disney in Talks on Independence for a Weinstein (New York Times)
Citing unidentified people involved in the talks, the newspaper said an agreement is not expected this week, and the sides are far apart on several big issues, but the progress shows that both sides recognize the importance of maintaining a successful relationship, the newspaper said.
The two sides would like to reach an agreement before Disney's fiscal year starts on Oct. 1, it said, citing several people involved in the talks.
Disney, based in Burbank, California, bought New York-based Miramax in 1993 from the Weinsteins, the studio's co-founders. Miramax's recent movies include "Chicago," "Cold Mountain" and "Kill Bill."
Under an agreement being negotiated, Disney might give Bob Weinstein a four-year contract, a small staff and a $300 million to $350 million annual budget to make four to six movies under his Dimension Films banner, the newspaper said, citing two people involved in the negotiations.
Dimension, a unit of Miramax, produces highly profitable film franchises such as the "Scream," "Scary Movie" and "Spy Kids" series.
Harvey Weinstein would become an independent producer, and secure financing for movies to be distributed by Bob Weinstein, the newspaper said. Disney might license the Miramax name back to Harvey Weinstein, but only for movie projects, it said, citing the two people.
Miramax's film library would not be for sale. There remains a 60 percent chance the Weinsteins might leave Disney, the newspaper said, citing a senior person involved in the talks.
Miramax plans to lay off at least 120 people as soon as this week, a person familiar with the matter told Reuters on Monday. The cuts reflect that the studio has too many people for a reduced number of projects, and are not being implemented at the behest of Disney, the person said.
Reuters/VNU