Viacom topping Miramax Library, Lionsgate withdraws application – Deadline

We have confirmed this afternoon's information that Viacom is heading a section of the Miramax Library, although no agreement has been reached and discussions are continuing. This situation occurs after the withdrawal of Lionsgate's offer to expand its core business.

That said, the current agreement between Lionsgate and the Miramax library on home entertainment rights (concluded and digital) for seven years is still intact. We understand that 30% to 50% of the Miramax film library is available for sale as the owner of the beIN Media Group Group seeks to retain a controlling interest in the 700-volume library built by Harvey and Bob Weinstein, which includes: pulp Fiction and winners of the Oscar for best film Shakespeare in Love, the English patient and Chicago. The reports put the value of this investment at around $ 100 million.

In June, when news announced that BeIN wanted to sell a portion of the library, a figure of $ 650 million was announced, but sources familiar with the library – which is replete with art titles and books – have been published. test – said that $ 325 million and more for all the assets was more reasonable. Filmyard paid $ 663 million to Disney in 2010, but that represented nearly $ 300 million of cash receivables. Miramax was purchased by BeIN at Colony Capital in 2016.

Under Bill Block's leadership, Miramax seeks to capitalize on the titles of his library. Last year, together with Blumhouse and Universal, there was a restart of Halloween of the library that brought in $ 255.4 million worldwide. The next step for Miramax is Guy Ritchie's shoot-em-up The gentleman, already published by STX. In fact, Miramax is collaborating with Viacom's Paramount TV studios, which are jointly developing a television series based on the 1998 Gwyneth Paltrow fantasy drama. Sliding doors. The film written and directed by Peter Howitt followed a London woman on two hypothetical paths, one where she returns home early and catches her boyfriend in bed with another woman, the other where she does not. No author has yet been associated with the new project. There was a buzz of There is no country for old people series in early development too.

Sources tell us that with the merger of Viacom and CBS, they are in a stronger financial position to take care of the Miramax library, not to mention the fact that media companies are looking to play an active role in streaming environment. A film catalog is therefore very practical. Viacom purchased the free and advertising-funded Pluto streaming service in January for $ 340 million. CBS has its own streaming services, Showtime and CBS All Access, which are expected to have 25 million subscribers by 2022.

For the first time, Bloomberg announced today that Viacom is taking the lead in the Miramax contract.