MIRAMAX CLOSES ITS DOORS

5/29/01/28/10 - For the past year, all we’ve been hearing about are the financial troubles of MGM and the Weinstein Company, and underneath it all Miramax was the one really suffering. Disney has decided to put an end to the studio that was started by Harvey and Bob Weinstein back in 1979.

It’s been announced that the New York and Los Angeles offices of Miramax will close their doors causing 80 people to lose their jobs. When it was founded 31 years ago by the Weinsteins it was a leading distribution company that produced some of the most cutting edge films of the time.

Some of the titles that came from under the Miramax umbrella were Reservoir Dogs, Pulp Fiction, My Left Foot, The Piano, The English Patient, Shakespeare in Love, The Crying Game, The Talented Mr. Ripley and Chicago.

The studio was sold to Disney back in 1993, and the founders decided to leave in 2005 to start their self titled, Weinstein Company. Harvey Weinstein and his brother have been trying to buy the company back from Disney. The estimated purchase price is 1.5 billion. In this economy, no one would buy it.