Navigation
Suscribe
Menu Search Facebook Twitter
Search Close
Menu ALL SECTIONS
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Digital
Prensa
Radio
TV
X
Newsletter
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers
Business

Qatar-based beIN Buys 100 percent of Miramax Film Studio

Terms of the deal were not disclosed in a statement announcing the purchase late Wednesday

be-In Media Group
2 years ago

DUBAI, United Arab Emirates — A Qatar-based media group that has already moved into international sports broadcasting has purchased a 100-percent stake in the film studio Miramax, part of its expansion into the entertainment business.

The beIN Media Group, which earlier spun off from Doha’s Al-Jazeera network, bought the studio famous for “Pulp Fiction,” ”No Country for Old Men” and “The English Patient” from investors including Colony Capital and the Qatar Investment Authority, the Gulf nation’s sovereign wealth fund.

Terms of the deal were not disclosed in a statement announcing the purchase late Wednesday. The beIN network did not respond to requests for comment Thursday.

 

 

“Miramax is a successful film and television company, providing a strong and recognizable 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,” Nasser Al-Khelaïfi, beIN’s chairman and CEO, said in the statement.

Producers Harvey and Bob Weinstein founded Miramax in 1979, naming it after their parents Miriam and Max. They built it into one of the most successful independents in the movie business, churning out many of the hits of 1990s independent cinema.

Walt Disney Co. acquired Miramax in 1993 for some $60 million. Disney sold the studio in 2010 to a group of investors for $660 million.

The move to purchase Miramax comes as beIN expands its presence across the world after purchasing rights to broadcast European football leagues and others sports. Qatar itself is spending tens of billions of dollars ahead of hosting the 2022 World Cup.

But the purchase also comes as Qatar faces pressure from low global oil and gas prices, which fuel its economy.

JON GRAMBELL

Comments Whatsapp Twitter Facebook Share
More From The News
Science

Rare skeleton shown of human ancestor, 3 ...

4 days ago
Latest News

Bannon savages GOP leaders in fight for ...

5 days ago
Latest News

IOC: Russians can compete at Olympics, b ...

5 days ago
Latest News

California communities under siege from ...

5 days ago
Most Popular

Mexico's Industries seek U.S. Partner Co ...

By Rosalba Amezcua
Business

Concamin Demands Industry Exemption from ...

By Rosalba Amezcua
Business

German Toolmakers Open up Shop in San Mi ...

By Ricardo Castillo
Business

Telcel Presents Claro Sports App

By The News
Business

Banorte Projects Sharply Weaker Mexican ...

By Reuters
Business