Weinstein Seeks Divorce From Disney - 2/15/04

[3IdAlienKid]

http://news.independent.co.uk/business/news/story.jsp?story=491381

Harvey Weinstein, chief executive of the film studio Miramax, is adding to the woes of Walt Disney chief Michael Eisner by saying he wants a divorce from the entertainment empire.

The move is calculated to further destabilise Mr Eisner as he attempts to defend Disney against a $60bn (£32bn) bid by US cable giant Comcast.

Miramax, which is behind a series of acclaimed movies including the current hit Cold Mountain, has been owned by Disney since 1993. Mr Weinstein, who has a difficult relationship with Mr Eisner, is understood to have hired investment bankers to advise him. He has indicated he wants to buy Miramax back from Disney and will consider leaving to set up on his own if he cannot strike a deal.

And the blows keep coming.

 

[General Grizz]

OUCH.

I'd rather it be Dimension than Miramax, but Scary Movie and Bad Santa aren't too Disneyesque.

More pressure, eh?

 

[tigsmom]

Sounds like Michael's house of cards is finally falling apart. Nothing like kicking a man when he is down.

 

[PeterAlt]

It sounds to me that Eisner has problems keeping good relationships with with his business associates. So many people have come out and said they couldn't get along with him! Why is this? Is it his arrogance? Is it that he just expects too much from them? Is it that he makes no effort in keeping friends, and deals with people on a "stand-offf" basis?

I don't know. Whatever it is, I see this as Eisner's greatest problem that he should maybe seek therapy for!

 

[PhotoDave219]

Frankly, i think this actually helps Disney. All they have to do is just sell Miramax & ABC/ESPN to Comcast and Comcast will be happy. And Disney will be rid of the anchor known as ABC.

 

[JLW11Hi]

Well, getting rid of ABC would be good for Disney, because its not really doing anythign for them right now...but I think Mirimax is a little more important to Disney. I mean, Chicago won Best Picture last year, and the studio really helps Disney broaden their aundience, although I have no idea how much Disney itself makes from Mirimax.

This sounds like a Pixar thing again! Perhaps the folks at Mirimax are jumping on the bus with Pixar and are looking to get a better deal for their efforts? Whether or not it will help the company, if Mirimax does split with Disney, I bet its going to be more bad press for Eisner.

But that's just my opinion...

 

[Shaman]

Originally posted by General Grizz
OUCH.

I'd rather it be Dimension than Miramax, but Scary Movie and Bad Santa aren't too Disneyesque.

More pressure, eh?

OUCH is right...If anything this helps the Save Disney movement...however it also seems to help Comcast...

Its strange that all this things are happening one after the other. Cause and effect? Or is there someone manilpulating these events?

Let the conspiracy theories continue...

 

[cherrynegra]

Well, this isn't really big news. It's been known for some time now that Weinstein has wanted out for some time and has attempted to purchase Miramax back on at least two occasions.

As for getting rid of ABC, I agree that it's not doing anything for Disney right now, but I think it's primarily because they don't have a concise cohesive vision of what they want shown on the network. And they have to branch out to smaller production companies who might have the next big show for them. Their programming is just all over the map. They really have to stop thinking of ABC as just some sort of outlet that they can use to promote their in-house products.

 

[mkt]

Originally posted by General Grizz
OUCH.

I'd rather it be Dimension than Miramax, but Scary Movie and Bad Santa aren't too Disneyesque.

More pressure, eh?

Dimension is under the Miramax name... if Miramax goes, Dimension goes too