Miramax, the once powerful indie studio behind hits like Pulp Fiction and Shakespeare In Love, has been trying to cash-in on its library rather than produce new projects in recent years. Tutor later sold his stake to Qatar Holding.
Now, the company is reportedly looking for a buyer.
Miramax was acquired by a consortium including Qatar Holding, Colony Capital and American-Armenian businessman and investor Ron Tutor in 2010 from Walt Disney Co for $660 million.
Kat Kleiner, a spokeswoman for Miramax, and Kristin Celauro, a spokeswoman for Colony Capital, declined to comment.
The Santa Monica, California-based company is speaking to financial advisers about its options, according to the people, who could not be named because the matter is private.
The Weinstein brothers from Queens founded the company in 1979, naming it after their parents, Miriam and Max. A representative for Qatar Holding, a unit of the Gulf State’s sovereign wealth fund, didn’t respond to a request for comment sent outside regular business hours.
Under current management, Miramax has become a bit more active in production, acquisition and distribution to bolster the library.
In 2011, Miramax paid a $142 million dividend to shareholders as part of a larger refinancing.
They left in 2005 after a bitter dispute with Disney over creative control, and then formed the Weinstein Co.
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