HARVEY, DISNEY TALKING TURKEY
By TIM ARANGO
newyorkpostonline
October 15, 2004 -- Miramax and Disney are discussing terms of an agreement for Harvey and Bob Weinstein to leave the movie studio they founded, The Post has learned.
Disney's board of directors is expected to discuss the posssible settlement at a meeting next week, sources said.
The two main issues are how much money the brothers will be paid out from their employment contract — which expires in September of 2005 — and which movie projects they can take with them, a source said.
The brothers are expected to leave Miramax shortly after next year's Oscar awards ceremony in late February.
Disney bought Miramax in 1993 for $75 million, but published reports peg its value today at close to $3 billion. Disney declined comment. A Miramax spokesman said, "Bob and Harvey remain interested in achieving an amicable solution."
A source said the two sides are still discussing ways they can continue to work together, though the discussions are focused on the terms of the Weinstein's possible exit from the company.
The Weinsteins are likely to seek financing to start a new motion picture venture.
The trade publication Variety reported yesterday that Disney was not interested in renewing the terms of the Weinstein's existing employment agreement.
The Weinsteins and Disney have long tussled over a variety of issues, including salaries and how much money Miramax could spend on movies.
Earlier this year Disney blocked Miramax from distributing Michael Moore's Bush-bashing documentary "Fahrenheit 9/11," forcing the Weinsteins to personally buy the film rights and seek an independent distributor.
By TIM ARANGO
newyorkpostonline
October 15, 2004 -- Miramax and Disney are discussing terms of an agreement for Harvey and Bob Weinstein to leave the movie studio they founded, The Post has learned.
Disney's board of directors is expected to discuss the posssible settlement at a meeting next week, sources said.
The two main issues are how much money the brothers will be paid out from their employment contract — which expires in September of 2005 — and which movie projects they can take with them, a source said.
The brothers are expected to leave Miramax shortly after next year's Oscar awards ceremony in late February.
Disney bought Miramax in 1993 for $75 million, but published reports peg its value today at close to $3 billion. Disney declined comment. A Miramax spokesman said, "Bob and Harvey remain interested in achieving an amicable solution."
A source said the two sides are still discussing ways they can continue to work together, though the discussions are focused on the terms of the Weinstein's possible exit from the company.
The Weinsteins are likely to seek financing to start a new motion picture venture.
The trade publication Variety reported yesterday that Disney was not interested in renewing the terms of the Weinstein's existing employment agreement.
The Weinsteins and Disney have long tussled over a variety of issues, including salaries and how much money Miramax could spend on movies.
Earlier this year Disney blocked Miramax from distributing Michael Moore's Bush-bashing documentary "Fahrenheit 9/11," forcing the Weinsteins to personally buy the film rights and seek an independent distributor.
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