Miramax was founded as Miramax Films by the Weinstein brothers, Bob and Harvey along with executive Corky Burger inBuffalo, New York, in 1979, and was named by combining the first names of their parents, Miriam and Max.[3] It was created to distributeindependent films deemed commercially unfeasible by themajor studios.
The company's first major success came when the Weinsteins teamed up with British producerMartin Lewis and acquired the U.S. rights to two concert films Lewis had produced ofbenefit shows forhuman rights organizationAmnesty International. The Weinsteins worked with Lewis to distill the two films into one film for the American marketplace. The resulting film, the American version ofThe Secret Policeman's Other Ball, was a successful release for Miramax in the summer of 1982. This release presaged amodus operandi that the company would undertake later in the 1980s of acquiring films from international filmmakers and reworking them to suit American sensibilities and audiences. In its early years, Miramax Films had to focus primarily as a catalyst for music and decided to do a licensing agreement withThorn EMI Video to release several of Miramax's early films.[4]
Miramax Films acquired and/or produced many other films that did well financially. The company became one of the leaders of the independent film boom of the 1990s. Miramax Films produced or distributed seven films with box office grosses totaling more than $100 million; its highest grossing title,Chicago, earned more than $300 million worldwide.[5]
The company was also successful in securingAcademy Award nominations for its releases, many of which resulted inOscar wins.
On June 30, 1993,The Walt Disney Company purchased Miramax Films for $60 million and assumed all of the company's debt, which was more than $40 million. The acquisition gave Disney entry to the independent film market.[6] Harvey and Bob Weinstein continued to operate Miramax Films until they left the company on September 30, 2005. During their tenure, the Weinstein brothers ran Miramax Films independently of other Disney subsidiaries and, as a result, had more autonomy than the other Disney-owned companies. Disney, however, had the final say on what Miramax Films could release (for example, Disney had banned Miramax Films from releasingKids,Dogma andFahrenheit 9/11).[7] Disney'sBuena Vista Home Entertainment division released Miramax output on VHS, DVD, and Blu-ray Disc under the nameMiramax Home Entertainment in some countries, including the United States; elsewhere, the overall distribution of Miramax Films' output was passed to the regional licensees of Miramax International, a distribution arm of Miramax Films that was fully autonomous from Disney's own distribution operations.
With a more stable budget, Miramax Films began moving beyond acquisitions and distribution and into film production. Until September 30, 2005, the company also operated the labelDimension Films, which was solely founded by Bob to specialize in teen, horror, and other genre films,[8] and created theScream andScary Movie film franchises. Harvey funded larger projects from up-and-coming directors, includingRobert Rodriguez,Gus Van Sant, andQuentin Tarantino. Some of the films earned Oscars.[8] At times the studio tried to release a film almost weekly.[9]
In 1997, Miramax Films joinedPeter Jackson as a primary financial backer in attempting to get theLord of the Rings films produced. Disney disliked the cost of a two-parter, requesting that it be produced as a single film. Jackson andSaul Zaentz rejected Disney's request and looked for another studio or financier. Thus, Miramax Films sold the rights forThe Lord of the Rings andThe Hobbit toNew Line Cinema in August 1998 for about $12 million, which ledThe Lord of the Rings to be produced as a trilogy. Miramax Films retained a 5% stake in the films' gross and then gave 2.5% to the Weinsteins.[10]
Through Miramax Films, Harvey foundedTalk magazine withTina Brown in 1998 (it shut down in 2002), albeit without the approval of then-Disney chiefMichael Eisner, which upset Eisner. Also that year, 30 former employees filed suit over unpaid overtime wages.[8]
By 2003, Miramax Films was less operative in the independent film market and became more of a mini-major as the company only acquired 3 films while producingCold Mountain for $80 million. The Weinsteins claimed the company was profitable, but Walt Disney Company presidentRobert Iger indicated in June 2004 that they were not properly accounting for "account standard overhead, distribution fees, bonuses that we pay Harvey and Bob. Nor are they applying current accounting rules."[8]
After extensive negotiations and much media and industry speculation, on March 30, 2005, Disney and the Weinsteins announced that they would not renew their contractual relationship when their existing agreements expired at the end of September 2005. The primary source of dispute was over distribution ofFahrenheit 9/11 by Michael Moore.[11] Disney's film studio consortium,Buena Vista Motion Pictures Group, assumed control of Miramax Films, which was projected to have a smaller annual production budget. The Weinsteins started a new film production company calledThe Weinstein Company (TWC) and took theDimension Films label with them. The Miramax Films name remained with the film studio owned by Disney. Production at Miramax Films was taken over byDaniel Battsek,[11] who had been head ofBuena Vista International in theUK. Battsek refocused Miramax Films to produce films of high quality but low budget.Maple Pictures held the rights to distribute Miramax films in Canada from 2008 up until August 10, 2011, when Maple Pictures was acquired byAlliance Films.[12] At the time, the company was criticized for delaying or withholding release of Asian films to which it acquired the U.S. distribution rights.[13] Previously, in 2003, the company was criticized for trying to bar retailers from legally exporting authentic DVDs of the films.[14]
On October 3, 2009, Disney announced that the staff of Miramax Films was to be reduced by 70%, and the number of releases would be reduced by half to just three films per year. The label's marketing, distribution, and administrative functions, which had operated independently, would be folded into the parent studio in Burbank. The move became effective in January 2010.[15] On October 30, 2009, Disney announced the resignation of Daniel Battsek as President of Miramax Films, effective when the transition from the studio in New York toBurbank was completed.[16] The company merged its operations with The Walt Disney Studios on January 28, 2010, shutting down Miramax Films' separate New York and Los Angeles offices.[11][17]
Though Disney Studio ChairmanDick Cook was a staunch supporter of Miramax Films, the brand was less of a priority for CEOBob Iger, whose strategy was to focus on Disney's branded mass entertainment that could be exploited across Disney's theme parks, television, and consumer products. Following Disney's $4 billion acquisition ofMarvel Entertainment in 2009, Cook was succeeded byRich Ross.[18] As a result, Miramax Films was relegated to the status of distribution label within the Walt Disney Company.[19] Disney confirmed that it was looking into selling the Miramax label on February 9, 2010, with Bob Iger explaining "We determined that continuing to invest in new Miramax movies wasn't necessarily a core strategy of ours".[20]
Other companies and post-Disney ownership era (2010–2019)
Miramax logo used beginning in 2010, used since 2018 (with byline) as a print logo on posters
On December 3, 2010, Disney closed the sale of Miramax for US$663 million toFilmyard Holdings, an investment group and joint venture ofColony NorthStar,Tutor-Saliba Corporation, andQatar Investment Authority. The sale included 700 film titles, books, development projects, and the "Miramax" name.Mike Lang, the formerNews Corporation business development executive who was selected as the CEO of Miramax,[21] indicated that the company would focus on their existing library, though they would continue making original content.[22][23]
On December 16, 2013, Miramax entered into a deal with Harvey and Bob Weinstein'sThe Weinstein Company to develop and distribute select derivative works of films from the former studio. Sequels, television series, or stage productions of titles such asRounders andShakespeare in Love were among the projects said to be part of this agreement.[26][27][28]
On a July 21, 2016, interview, Harvey Weinstein stated that he was still interested in combining TWC's film library with Miramax's, after the acquisition of Miramax by beIN.[41]
After Miramax's founder Harvey Weinsteinwas accused of sexual assault in October 2017, Miramax became one of 60 parties bidding on TWC on January 16, 2018.[42] On April 27, Miramax and Lantern Capital emerged as the strongest contenders to acquire TWC's assets. Ultimately, it wasLantern that acquired TWC's library.[43]
On June 7, 2019, beIN began the process of selling approximately 50% of Miramax in an effort to offer it for growth.[44]Lionsgate (which distributed Miramax's titles on home video),Spyglass Media Group (owners of the Weinstein Company library, inherited via their deal with Lantern) andViacom (Paramount's parent company whore-merged withCBS Corporation on December 4, 2019, to form ViacomCBS) were seen as the leading contenders to acquire a stake in the company.[45] By August 19, 2019, Lionsgate and Viacom were the only contenders, as Spyglass Media Group dropped out of contention.[46] On September 11, 2019, it was announced Lionsgate had dropped their bid, making Viacom the only bidder for the stake in Miramax.[47] On November 8, 2019, Viacom exited the negotiations to acquire them.[48] After merging with CBS Corporation to become ViacomCBS, the combined firm resumed talks with Miramax.[49]
On December 20, 2019, ViacomCBS (now known asParamount Global) announced it would acquire a 49% stake in Miramax for at least $375 million, withParamount Pictures gaining exclusive worldwide distribution rights to its film and television library. Paramount Pictures and Miramax will also co-produce new content based on titles from the library.[50] The deal officially closed on April 3, 2020.[51]
On June 24, 2020, Miramax and ViacomCBS announced their first co-production,The Turkish Detective, a television series based on theCetin Ikmen novels byBarbara Nadel.[52]
On October 2, 2023, it was announced that CEO Bill Block would be leaving the company that week following the end of his contract with them, starting his own production company, BlockFilm, later that month.[53][54] In January 2024,Jonathan Glickman was reported to be in talks to join Miramax as CEO, with his company Panoramic Media expected to be acquired by Miramax if talks were successful.[55] On April 2, 2024, Glickman was officially named Miramax's new CEO effective immediately. As part of the deal, Miramax also acquired certain film and television projects from Glickman's company Panoramic Media.[56]
Miramax Family Films was the family division of Miramax Films, founded on September 2, 1993.[57] The label was quietly discontinued in 2006. On March 18, 2019, Miramax revived its family and animation divisions, with both being founded as separate divisions within the company.
Independent (1987–1993) The Walt Disney Company (1993–2010) Filmyard Holdings (2010–2016) beIN Media Group (2016–present) Paramount Global (2020–present)
Miramax Television is thetelevision productiondivision founded in 1987, assigned to producing television shows based on the existing Miramax film library and original concepts. Although Miramax produced its series as early as 1987, Miramax expanded its foray into game shows with an attempted version ofWhat's My Line? in 1996,[61] followed by a proper television division in 1998.[62][63] In 2001, Mort Marcus became chairman of the company, only to leave in 2002 to reestablishDebmar Studios.[64][65]
^When Disney purchasedAir Bud for an estimated $6 million for domestic rights and rights to sequels, the rights were through then-subsidiary Miramax Films; however, sometime during development, the first installment was moved to theWalt Disney Pictures label when it released in 1997,[59] and the rights to all were retained by Disney following its sale of Miramax in 2010.[60]