Inside Move: Miramax buys out Brown’s pact

Former editor to continue as consultant on books, films, projects

It’s not often want-ads appear on the front page of the New York Times’ business section, but there it was in bold print: Former Talk editor Tina Brown is officially a free agent.

Seven months after pulling the plug on Talk Magazine, Miramax confirmed it has severed its employment agreement with the mag’s lame duck editor, Tina Brown.

When Talk was shuttered, at a cost of nearly $55 million to joint owners Miramax and Hearst, Brown still had nearly two years on her contract as chair of Talk Media, a division of Miramax that encompassed Talk magazine and Talk Miramax Books. Brown also had equity in Talk Miramax Books.

Now Miramax has paid Brown close to $1 million to settle her contract. Under terms of the settlement, she no longer has equity in the book imprint. She will continue to serve as a consultant to Miramax on books, films and other projects through the end of the year.

Brown’s next move remains a subject of speculation. Walter Isaacson, CNN prexy and friend, said: “I think she’ll go traveling in Corsica and the Hamptons and have a good time. I think that she should write a book.”

Don’t expect it to be published by Miramax. The book division has shed its affiliation with Brown’s ill-fated magazine and been renamed Miramax Books.

Editor-in-chief Jonathan Burnham’s contract has also been renewed for three years.

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