We hear this is a strategic move, and one that was initiated because BeIN was approached by interested parties.
The studio is being valued at $650M, and BeIN is trying to sell as much as 50%, one in which they would retain control. Investment bank Moelis & Co. is overseeing the sale of the Oscar-winning studio that was built by Harvey and Bob Weinstein and birthed such blockbuster and award-winning hits as Pulp Fiction, Shakespeare in Love, The English Patient, and Chicago.
Recently, Miramax reaped great success in the Blumhouse/Universal co-production reboot of Halloween which grossed $255.4M WW off a $10M production cost, the most successful movie ever in the horror franchise. Next up for Miramax is the Guy Ritchie directed The Gentleman ne Toff Guys which STX is distributing stateside next year.
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