Disney looking to sell Miramax unit-NY Times

NEW YORK, Jan 31 (BestGrowthStock) – Walt Disney Co (DIS.N: ) is looking to sell what is
left of its Miramax film unit, which could bring in more than $700 million, The New
York Times reported on Sunday, citing a mergers and acquisitions expert with knowledge
of the process.

The company is looking to sell the Miramax name as well as its 700-film library,
the report said, and the possible sale has attracted the interest of seven to 10
bidders.

According to the report, possible buyers include “Twilight” studio Summit
Entertainment, private equity groups and at least one other independent studio.

A sale could be announced “within a few months,” The New York Times said, citing
the same source.

Disney and Summit could not be immediately reached for comment.

Miramax was once a top art-house studio, and its library includes “Pulp Fiction,”
“Good Will Hunting,” “No Country for Old Men,” “Clerks,” and “Shakespeare in Love.”

According to the newspaper, analysts estimate that the Miramax library brings in
more than $300 million in DVD and television revenue annually, but Disney has never
disclosed that figure.

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(Reporting by Michael Erman, editing by Martin Golan)

Disney looking to sell Miramax unit-NY Times