We hear that Osher’s exit from Miramax was always part of the plan in the closing of the ViacomCBS-Miramax deal.
ViacomCBS shelled out $150 million of the $375 million pricetag when they closed the Miramax deal back in April. The media conglomerate is committed to investing $225 million – comprised of $45 million annually over the next five years – to be used for new film and television productions and working capital.
Paramount Pictures also entered into an exclusive, long-term distribution agreement for Miramax’s film library and an exclusive, long-term first-look agreement allowing Paramount Pictures to develop, produce, finance and distribute new film and television projects based on Miramax IP.
Said Miramax CEO Bill Block in statement about Osher’s departure, “We are grateful for the integral role Bob has played in advancing the company’s commitment to great storytelling and innovative television and film projects. Bob helped lay the groundwork and played a key role in achieving the completion of our strategic partnership with ViacomCBS/ Paramount, which will create unique new opportunities for collaborations and new value from our extensive library of award-winning film and television content. We appreciated Bob staying through the completion of the transition process and for everything else he has achieved during his time at Miramax and wish the best in his future endeavors.”
Added Osher, “I couldn’t be more thankful for the time I’ve spent at Miramax. It was an honor contributing to the efforts made behind our partnership with ViacomCBS/Paramount, integrating top-of-the-line resources and talent, which will ultimately define this new chapter of Miramax and the many successes to come.”
Recently, Miramax co-produced and financed Universal/Blumhouse’s reboot of Halloween which was the highest grossing installment in the 42-year old franchise with $255.5M at the worldwide box office. Also, back in January, Miramax, through STX, had the Guy Ritchie action movie The Gentlemen which grossed $115M worldwide.