Burbank, California, December 3, 2010–The sale by The Walt Disney Company to Filmyard Holdings LLC of Miramax Films for $663 million subject to certain adjustments has been completed, it was announced today by both companies. Partners in Filmyard Holdings include Thomas J. Barrack Jr., Colony Capital LLC, Ronald Tutor, and Qatar Holding LLC.
The sale of Miramax Films includes rights in over 700 film titles, including Academy Award winners Chicago, Shakespeare in Love and No Country for Old Men. Also included are non-film assets, such as certain books, development projects and the “Miramax” name.
About The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media. Disney is a Dow 30 company and had annual revenues of about $38 billion in its most recent fiscal year.
About Qatar Holding
Qatar Holding was established in 2006 with the vision of becoming a world class investment corporation and the preferred partner of choice for investor, financiers and other stakeholders.
Certain statements relating to the timing and consummation of the transaction in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of the current beliefs, expectations and assumptions of the management of Disney regarding future events and are subject to risks and uncertainty regarding the receipt or timing of regulatory approvals and fulfillment of conditions contained in the transaction documents. Disney undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.