beIN Media Group swoops for Miramax


Details

Joseph O'Halloran

| 03 March 2016




In a move that it says confirms its position as one of the fastest growing global media and entertainment companies, beIN Media Group has acquired content giant Miramax.



The global film and television studio has a large roster of more than 700 titles and has received 278 Academy Award nominations and 68 Oscars, earning most notably four Best Picture awards for The English Patient, Shakespeare in Love, Chicago and No Country for Old Men.

In 2016, Miramax will invest in and co-distribute several upcoming feature films including Bad Santa 2, Bridget Jones’s Baby, Southside With You and The 9th Life Of Louis Drax, as well as the television show From Dusk Till Dawn: The Series, heading into its third season. Last year MIRAMAX’s slate included the critically acclaimed Mr Holmes, one of the year’s most successful independent films, and the comedy hit The Wedding Ringer.

beIN Media Group now has 100% of Miramax shares. Commenting on the transaction, chairman and chief executive officer, Nasser Al-Khelaïfi, said: “We are extremely excited to have achieved this key milestone within our strategy. Miramax is a successful film and television company, providing a strong and recognisable 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. As part of beIN Media Group, we will support Miramax in continuing to build this exciting platform. We very much look forward to working with the Miramax team.”

Selling shareholders on the deal include Qatar Investment Authority and Colony Capital. The latter’s founder Thomas J Barrack added: “Miramax is one of the most iconic film brands in the world, housing a collection of the most celebrated and valued content libraries and management teams in Hollywood ... Our sale to beIN will provide not only stewardship for these irreplaceable films but a best of class strategic owner focused on expansion of production and the betterment of the Miramax brand. We are fortunate to have found Nasser Al-Khelaïfi and beIN Media Group as the best of global class curator for the purpose of Miramax’s growth and continued legacy.”