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  1. #1

    • Darkbeer
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    The Walt Disney Studios and Bob and Harvey Weinstein Reach Mutual Agreement...

    The Walt Disney Company Press Release



    The Walt Disney Studios and Bob and Harvey Weinstein Reach Mutual Agreement Concerning Employment Contract



    Miramax Co-Chairmen to Remain at Company Thru September 2005



    Will Oversee Upcoming Releases While Preparing for Launch of Their New Company





    LOS ANGELES, March 29 -- The Walt Disney Studios and Miramax co-chairmen Bob and Harvey Weinstein have reached a mutual agreement concluding the Weinsteins current deal with The Walt Disney Company, it was jointly announced today by Dick Cook, chairman, The Walt Disney Studios and Bob and Harvey Weinstein.



    The Weinsteins will remain co-chairs of Miramax on a non-exclusive basis through September 30, 2005. During this period, they will focus their efforts on completing projects currently in production and will oversee the marketing and distribution of Miramax and Dimension films scheduled for release. Cook will announce new management of Miramax Films in July 2005. During a transition period that will last from July through September, the Weinsteins will work with the new Miramax leadership, which will report directly to Cook. The Weinsteins will make no new financial commitments towards the development, acquisition or production of projects on behalf of Miramax.



    Bob and Harvey will own and operate a new company, which is currently being developed, and they will immediately begin the production, development and acquisition of new projects for their new venture. Details about the Weinsteins new company, including its name, financial backers and other specifics, will be announced during the next several weeks.



    The Walt Disney Studios will retain the name "Miramax Films" and the Miramax and Dimension film libraries, while the Weinsteins will take the Dimension label to their new company.



    The Walt Disney Studios and the Weinsteins, through their new company, will continue their relationship by potentially collaborating on as many as 25+ projects including, but not limited to, co-productions of sequels to hit film franchises like "Scary Movie" and "Spy Kids," and by co-financing the production and distribution of original films including "Breaking and Entering" and "The Matador."



    An announcement about the future plans for Miramax Books will be made later this week.



    "Bob and Harvey are talented creative executives who have brought some of the finest award winning films to the big screen," said Cook in making the announcement. "Through this mutually beneficial arrangement, we will continue our relationship with the Weinsteins and their new company well into the future, while focusing our efforts on Miramax."



    "Disney's film library has benefited tremendously from the groundbreaking and critically acclaimed films developed under Harvey and Bob," said Robert A. Iger, president and chief operating officer and CEO-elect, The Walt Disney Company. "Their creative instincts are undeniable, and they have developed a valuable asset for this company. We look forward to future collaborations with them through this newly established relationship."



    "Harvey and Bob's unprecedented 12-year association with Disney will go down in the motion picture annals for its unparalleled contributions to independent filmmaking and the entrepreneurial creative spirit they fostered

    within a corporate environment," said Michael Eisner, CEO, The Walt Disney Company. "The Weinsteins' passion and enthusiasm for film are infinite and will thrive wherever their vision takes them."



    "We are incredibly grateful for the chances we have been given at Disney over the past 12 years. As movie fans, we truly appreciate the unique opportunities we have had to work with some of the greatest talent, both on screen and off, in sharing such a wide range of independent and foreign films and Miramax and Dimension productions with audiences around the world," said Bob and Harvey Weinstein. "We are thankful to Dick Cook for his commitment to making this agreement possible and we appreciate Bob Iger's contributions too. We know that there is no bigger fan of our movies than Michael Eisner and think it was pretty brave of him to give us the ability to make movies like "Hero" and "City of God." We look forward to working with Bob and Dick and everyone else at Disney on projects in the future. We've nurtured Miramax over the past 25 years and are proud of the valuable film library we've built for Disney shareholders."



    Since being acquired by The Walt Disney Company in 1993, Miramax Films has received 220 Academy Award nominations, winning 3 Best Pictures and 53 total Oscars. The company received 14 Best Picture nominations for "The Aviator" (2004), "Finding Neverland" (2004), "Chicago" (2002), "Gangs of New York" (2002), "In the Bedroom" (2001), "Chocolat" (2000), "The Cider House Rules" (1999), "Shakespeare In Love" (1998), "Life Is Beautiful" ("La Vita E Bella") (1998), "Good Will Hunting" (1997), "The English Patient" (1996), "Il Postino" ("The Postman") (1995), "Pulp Fiction" (1994), and "The Piano" (1993).



    Some of Miramax and Dimension's highest grossing films include "Chicago," "Good Will Hunting," "Pulp Fiction," "Scary Movie," "Scary Movie 3," "Scream," "Scream 3," "Shakespeare in Love," "Spy Kids," and "Spy Kids 3D Game Over."
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  2. #2

    • Darkbeer
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    And a news link (AP story)...

    http://sfgate.com/cgi-bin/article.cg...&type=business


    The two companies will work together after the separation to potentially collaborate on as many as 25 or more projects, including co-productions of sequels to such film franchises as "Spy Kids" and "Scary Movie."
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  3. #3

    • is FIERCE!
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    Thanks Darkbeer!

    Next stop Pixar????
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  4. #4

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    Quote Originally Posted by dramaqueen
    Thanks Darkbeer!

    Next stop Pixar????
    Let's hope so. But that's another thread.

  5. #5

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    • Minion
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    I for one am not very happy with this news... Miramax are the Weinsteins... And for the most part the new company they are forming is going to be in direct compitition with Miramax...

    Miramax will sink into the dulldrums of filk, producing cheap films that won't be in profit now... and will be religated to just a library... While the cream of the crop still go with the Weinsteins...

    It's unsettling...
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  6. #6

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    And the Weinsteins will be taking many of the directors, producers and other artists to their new home...

    But it sounds like Disney doesn't want to make anything except restricted budget films under the Miramax label. They will hope for a breakthrough film, but will be happy with a bunch of films that doesn't cost much, and will make a decent profit, especially after the DVD's are released.
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  7. #7

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    Quote Originally Posted by Darkbeer
    And the Weinsteins will be taking many of the directors, producers and other artists to their new home...

    But it sounds like Disney doesn't want to make anything except restricted budget films under the Miramax label. They will hope for a breakthrough film, but will be happy with a bunch of films that doesn't cost much, and will make a decent profit, especially after the DVD's are released.
    The trouble is, it is not just being restricted budget... It is establishing relationships, going after pieces that you know are going to work... But from the looks of it, this agreement does not go with a non-compitition clause...

    Which means that the Weinsteins are free to pay margenly more than Disney for the same films... And they may be able to get a better contract...

    Again, this is a case of where Eisner makes his own worst enemies...

    If the new Weinstein company ever goes public... Heck, I would buy stock in it...
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  8. #8

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    They betrayed the mission nof miramax in that they got seduced to do bigger and bigger budget movies. They were the art house and ended up with 100 million buck films. Disney had a right to be upset with them. Weinstein is known in the business as a really horrible person and so everyone gets what they deserve. This is a good thing in the long run.
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  9. #9

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    Quote Originally Posted by Cousin Orville
    Weinstein is known in the business as a really horrible person and so everyone gets what they deserve.
    Yeah, well, I don't know if he is any worse than other people I know in the business... There are prety slimy people out there...

    The problem is that Disney never should have bought Miramax to begin with... It's like the odd couple... And you could say that Touchstone/Hollywood may have been a bad move...

    But, if you are going to go in the direction of adult entertainment for urban audiances... Down and Out in Beverly Hills, Hildago, and the Alamo isn't going to cut it anymore... Losing Weinstein means losing a host of other directors, plus an influence on Sundance...

    Weinstein brought LOTR to Eisner - who thought he was out of his mind... Why the heck do you think Disney is going forward with Narnia? Weinstein... Iger has no skill in picking films... and the guys they have in place are not any better than Eisner... I am hoping that Iger will shake up the film devision soon after trying to solidify a new deal with Pixar (which is going to be difficult...)
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  10. #10

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    [QUOTE=cellarhound]Yeah, well, I don't know if he is any worse than other people I know in the business... There are prety slimy people out there...

    The problem is that Disney never should have bought Miramax to begin with... It's like the odd couple... And you could say that Touchstone/Hollywood may have been a bad move...[QUOTE]
    yes. Completely agree there... it was definitely an "odd couple".... but financially
    successful.

    Quote Originally Posted by cellarhound
    But, if you are going to go in the direction of adult entertainment for urban audiances... Down and Out in Beverly Hills, Hildago, and the Alamo isn't going to cut it anymore... Losing Weinstein means losing a host of other directors, plus an influence on Sundance...

    Weinstein brought LOTR to Eisner - who thought he was out of his mind... Why the heck do you think Disney is going forward with Narnia? Weinstein... Iger has no skill in picking films... and the guys they have in place are not any better than Eisner... I am hoping that Iger will shake up the film devision soon after trying to solidify a new deal with Pixar (which is going to be difficult...)
    Actually, IMHO the CEO should have almost no role in picking films when you're
    the size of Disney. Just like they should have no role in picking the Fall season
    or actually running the Parks. The only thing is just to be a sanity check and
    a big veto. They shouldn't be micromanaging to that level. It's like Bill Gates
    complaining about how code is written in one module of some piece of
    software.

  11. #11

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    Quote Originally Posted by nish221
    Actually, IMHO the CEO should have almost no role in picking films when you're
    the size of Disney. Just like they should have no role in picking the Fall season
    or actually running the Parks. The only thing is just to be a sanity check and
    a big veto. They shouldn't be micromanaging to that level. It's like Bill Gates
    complaining about how code is written in one module of some piece of
    software.
    Don't get me wrong, I like Miramax, it is just that I don't like it when people look at the unit and say that Disney didn't see profit in the unit... Truth is it could have been way more profitable... But Eisner played his own game in the last couple of years sending film makers over to New Line and Lions Gate... What I find Ironic is that the Weinsteins prospected many of these films originally... Eisner/Stratigic Planning stepped in giving green and red lights to projects that would have been more lucrative if they had more freedom to produce the films...

    Ironically Bob Weinstein just said that Eisner was his "biggest fan"... It made me laugh... Maybe because of the multi million dollar settlement? Maybe because the Weinstein's are now free to build their own studio to be compedative to Disney?

    Some of the studio's in the Eisner/Disney fold didn't make much sense to me... The biggest one is Hollywood Pictures... To this day I still don't understand the what the unit's purpose...

    Anyway, that is neither here nor there...

    The one unit I would like to see a big shake up in is Home Video... And it is beginning to happen... They held out some of their library from going to DVD for way too long... And the longer some of these films are not transfered to DVD, the less demand there are for them.

    But Mirimax? The unit will do better without Eisner... But to be with out both Einser and the Weinsteins, it is an open book without much direction... Except maybe a monitary mandate... I hope Iger picks a new chief for the unit that is worth their salt... And someone who is willing to take a risk now and then... otherwise, the unit will lapse into obscurity...
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  12. #12

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    I think Pixar and Disney should go their seperate ways if all Disney is going to do is put Pixar rides in all of their theme parks. Disney relies too heavily on them.

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