ViacomCBS: takes 49% stake in film studio Miramax
(CercleFinance.com) - The newly-created media giant ViacomCBS has entered into a definitive agreement to acquire a 49% stake in film and television studio Miramax for 375 million dollars, the company said on Friday.
In a statement, ViacomCBS said the "strategic" investment in Miramax will create synergies with its own studio unit, Paramount Pictures, through new production and co-financing opportunities in film and TV.
Miramax's film library includes more than 700 titles, including award-winning movies such as "Shakespeare In Love," "The English Patient," and "No Country For Old Men."
Qatar-based broadcaster beIN will retain a 51% stake in Miramax, whose current management team will continue to lead the company, ViacomCBS said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In a statement, ViacomCBS said the "strategic" investment in Miramax will create synergies with its own studio unit, Paramount Pictures, through new production and co-financing opportunities in film and TV.
Miramax's film library includes more than 700 titles, including award-winning movies such as "Shakespeare In Love," "The English Patient," and "No Country For Old Men."
Qatar-based broadcaster beIN will retain a 51% stake in Miramax, whose current management team will continue to lead the company, ViacomCBS said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.