Miramax sold to Qatar-based beIN Media Group – Indie Sales teams with ‘Ernest’ producer on ‘Panchamama’
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LOS ANGELES, March 3, (Agencies): Miramax, the film studio behind hundreds of hit movies including “Pulp Fiction” and “Chicago”, has been sold to the Doha-based BeIN Media Group, the companies announced on Wednesday.
BeIN, which runs sports networks and movie channels in 24 countries in the Middle East, North Africa, Europe and the US, said Miramax would continue to operate as an independent film and television studio under its new owners.
“We are extremely excited to have achieved this key milestone within our strategy,” said Nasser Al-Khelaifi, chairman and CEO of beIN Media Group.
Miramax’s back catalogue of more than 700 movies have won a total of 68 Oscars, including for “The English Patient”, “Shakespeare in Love”, and “No Country for Old Men”.
The company was founded in 1979 by Harvey and Bob Weinstein, who sold it on to the Walt Disney Company for $60 million in 1993.
Private
It was bought for more than 10 times that amount in 2010 by an investor group led by real estate magnate Ron Tutor, private equity firm Colony Capital and the Qatar Investment Authority, although Tutor later sold his stake to the Qataris.
Colony and Qatar had reportedly been looking to offload the company with its library for at least a year, although no investor came in for the $1 billion asking price.
Financial terms of the deal announced on Wednesday were not disclosed.
In 2016, Miramax has invested or will be investing and co-distributing a number of titles including “Bad Santa 2,” “Bridget Jones’s Baby,” “Southside with You,” “The 9th Life of Louis Drax” and the TV show “From Dusk Till Dawn: The Series,” based on the film of the same name.
Last year, the company’s slate included “Mr Holmes” and the comedy hit “The Wedding Ringer.”
“Miramax is a successful film and television company, providing a strong and recognizable brand, a unique library and industry expertise that complement beIN Media Group’s plans to grow across the entertainment industry and develop new content production,” said Al-Khelaifi.
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LOS ANGELES: Indie Sales is joining forces with France’s Folivari, the new banner of Oscar-nominated Didier Brunner (“Kirikou”), to produce “Pachamama”, an animated feature directed by Argentine helmer Juan Antin (“Mercano the Martian”).
Penned by Antin, “Pachamama” is an adventure tale set against the backdrop of the Incan Empire at the start of the 16th century in what is now Peru. The story centers around Tepulpai, a 10-year-old Indian boy who lives in a remote village nestled in the Andes Mountains and dreams of flying high in the sky and becoming shaman.
Antin’s “Mercano the Martian” won the audience prize at Sitges.
The ambitious toon project, which is co-produced by O2b Films, was first pitched at last year’s Cartoon Movie in Lyon and is now in the final development stage. Indie Sales is co-producing and handling international sales on the project.
Launched in 2013 by former TF1 International topper Nicolas Escbach, Indie Sales has been consistently investing in diverse independent toon features from Europe that all share strong concept or IP and commercial potential. The company’s animated slate includes “Moomins on the Riviera,” “My Life as a Zucchini” and video game-based “Dofus.” The Paris-based company won last year’s Cartoon Movie Tribute for best European distributor.
“This collaboration confirms our strong interest in the unique world of animation and our commitment to supporting the competitive European animation market by supporting original creations,” said Escbach, who is currently attending Cartoon Movie in Lyon (France). “It’s an honour for Indie Sales to work with Didier Brunner, who has consistently produced artistically creative family films for worldwide audiences.”
An expert at delivering artful and upscale, yet non-mainstream-looking toons, Brunner ranks as one of Europe’s top animation producers, with credits such as “Ernest & Celestine,” which was nominated for an Oscar in 2014, as well as the cult toon “The Triplets of Belleville,” nominated for a BAFTA, and the “Kirikou” trilogy. Brunner also co-produced the Oscar-nominated “Brendan and the Secret of Kells.”
“Producing an ambitious film like ‘Pachamama’ requires important dedicated partners who share a common goal to make the best film possible. Folivari is happy to welcome Indie Sales to the Pachamama team,” said Brunner.
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