Thursday, July 8, 2010

LA billionaire snaps up Disney's Mirimax for $600 million

Mirimax, the film unit owned by Walt Disney, has been sold by the media conglomerate for $675 million to a consortium of investors including Colony Capital and Ron Tutor, the Financial Times [in addition to Market Watch] are reporting this morning. According to Market Watch: reported that Burbank, Calif.-based Disney agreed to sell the virtually defunct studio to Los Angeles billionaire Ronald Tutor and his partners, Morgan Creek studios, financial house Colony Capital and Hollywood mogul David Bergstein.
Disney officials would not comment on the report.
Citing various unnamed sources, TheWrap said the studio would be run as a standalone company with Morgan Creek acting as a distribution partner.
Read the full article here: [FT] [Market Watch] 
blog comments powered by Disqus