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Friday, 16 April 2010
TOLD YA
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Looks like Harvey and Bob are getting Miramax back--no idea why they sold it in the first place., to be honest.  From the Hollywood Reporter:

It looks as if the Weinsteins have managed to fashion a winning bid in the Miramax auction and will take back operating control of the company they founded in 1979 and sold to Disney for $80 million in 1993.  Running the process internally, the Burbank studio for months has been soliciting offers for the recently shut specialty-film unit and its 611-title library.  Miramax founders Harvey and Bob Weinstein had been building enough financial muscle to put together an offer of $600 million or thereabouts, seeking to top bids from such rival suitors as businessmen Alec and Tom Gores and a more controversial one from Hollywood wheeler-dealer David Bergstein.


You know, I've learned a very valuable lesson from this.  When I build my 611 title library with a start up film company named after my parents, I'm never going to sell it.  I'm going to give it to my children.  And, their children.  And, their children.  No wait--forget that--then they'll just be a bunch of lazy nitwits who don't do anything but play shuffleboard and lawn bowl all day.  I'll give my library to charity.  Something really worthwhile like PETA, or Idol Gives Back.  A film library is like an NFL team.  Twenty years ago you could have given the right person a back rub, and bought the Detroit Lions for $50 million.  Now a team costs a billion dollars.

If you think  $600 million seems like a lot to pay,imagine being Harvey and Bob.  They're sitting there right now thinking, we sold this shit 15 years ago for $80 mil, and now we're paying $600 to get it back?

Absolute craziness.

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Posted on 04/16/2010 2:18 PM by Todd Carr
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