Walt
Disney
Co.
has
finally
sold
its
Miramax
film
division
to
Filmyard
Holdings
LLC
for
more
than
$660
million
thus
ending
the
month
long
talks
with
various
bidders.
The
Miramax
production
2007
movie
No
Country
for
Old
Men
earned
Academy
awards
in
2008.
The
private
equity
investors
of
Filmyard
Holdings
include
investment
firm
Colony
Capital
and
construction
magnate
Ron
Tutor.
Since
last
few
months,
Disney
has
been
involved
in
negotiation
with
many
potential
buyers.
Miramax
has
also
made
movies
like
Shakespeare
in
Love
and
Pulp
Fiction.
Robert
Iger,
the
chief
executive
of
Disney
said,
“We
feel
proud
to
acknowledge
many
accomplishments
of
Miramax
but
now
the
Walt
Disney
Studios" strategy
is
the
expansion
of
great
motion
pictures
under
the
Pixar,
Disney
and
Marvel
brands".
Disney
said,
“This
sale
of
Miramax
will
carry
the
rights
of
more
than
700
movie
titles,
which
include
Oscar
winning
Chicago,
No
Country
for
Old
Men,
and
Shakespeare
in
Love".
Disney
bought
Miramax
for
$80
million.
According
to
Disney
the
sale
of
Miramax
is
likely
to
close
between
September
10
and
year
end.