The deal ended bad blood between the parties, stemming from Harvey and Bob Weinstein failing to reclaim the Miramax name and library of 700 films, but holding a position on sequels to the films they made at Miramax. I’m told that former WMA chief Jim Wiatt was helpful in bridging a relationship between newly minted Miramax CEO Mike Lang and the Weinstein brothers, and that led to the working arrangement on sequels and does away with potential litigation.
Miramax is starting out as a library company, so in all likelihood, the Weinsteins will take the active role on the sequels. Miramax is entitled to become a 50/50 production partner, but can just as easily take a passive role and collect 5% of first dollar gross. That’s the same amount Miramax is getting for the sequels that are already in the can: Scream 4, Spy Kids 4 and Scary Movie 5. TWC will produce and distribute the films.
Miramax isn’t done making deals, though. It inherited hundreds of development projects and will be looking for partners on those projects. It also has three finished films–the John Madden-directed The Debt, the Guillermo del Toro-produced Don’t Be Afraid of the Dark, and the Massy Tadjedin-directed Last Night with Keira Knightley and Sam Worthington. I’m told that Lionsgate is a likely landing place for those films, as well as Miramax’s home video output deal.
As far as the Miramax sequels, Swingers and Rounders are being developed as TV projects. The Amityville Horror is furthest along as a feature, and a Bad Santa and Bridget Jones sequels are priorities. The Oscar-winning Shakespeare in Love is the surprise among sequel projects, but that is only in the concept stage and no one has yet been hired to work on a screenplay.