×
You will be redirected back to your article in seconds

Viacom Becomes Frontrunner for Miramax Stake, Lionsgate Exits Bidding

Viacom has become the frontrunner to buy a stake in Miramax Films while Lionsgate has dropped out of the process, informed sources said Wednesday.

The developments were first reported by Bloomberg, which said talks are ongoing about a possible deal for at least $100 million. The companies did not respond to requests for comment.

Such a deal would give Viacom access to nearly 800 titles including “Pulp Fiction,” “Shakespeare in Love” and “Good Will Hunting” and future titles such as Guy Ritchie’s “The Gentlemen” with Matthew McConaughey. Spyglass Media Group had been exploring making a bid earlier this year but dropped out of the process.

The Miramax owners have offered the stake amid growing demand for film and TV assets, driven by new streaming services from companies like Disney, NBCUniversal, Apple and AT&T. Viacom and CBS are merging in order to compete effectively in the fast-changing environment.

Miramax was founded in 1979 by Bob and Harvey Weinstein and sold to the Walt Disney Company in 1993 — by which time, it had transformed the independent film scene by producing such titles as “Sex, Lies, and Videotape” and “The Crying Game.” Miramax’s assets were acquired from Disney in 2010 by Filmyard Holdings, consisting of Colony Capital, Tutor-Saliba Corporation, and Qatar Investment Authority.

Popular on Variety

Miramax was sold by its private equity owners in 2016 to beIN Media Group, which owns 100% of the company. It hired Bill Block as CEO in 2017.

More Film

  • Imogen Poots

    'Black Christmas' Star Imogen Poots on Why Male Horror Fans Should See Slasher Remake

    “Black Christmas” is the second remake of the 1974 slasher classic, which centers on a group of sorority sisters stalked by an unknown murderer. While the original had the female protagonists (SPOILER) offed, in this one, the women fight back. “It’s been called a re-imagining of the original, and I think, in ways that the [...]

  • Imogen Poots as Riley in "Black

    'Black Christmas': Film Review

    “Black Christmas,” a low-budget Canadian horror movie released in 1974, was a slasher thriller with a difference: It was the very first one! Okay, there were more than a few precedents, from “Psycho” (the great-granddaddy of the genre) to “The Last House on the Left” and “The Texas Chain Saw Massacre” to Mario Bava’s “A [...]

  • David Benioff, D.B. Weiss. Creators and

    'Game of Thrones' Creators to Develop H.P. Lovecraft Movie at Warner Bros.

    Following their exit from the “Star Wars” universe, “Game of Thrones” co-creators David Benioff and D.B. Weiss have found their replacement pic, signing on to produce an untitled thriller based on the graphic novel “Lovecraft” for Warner Bros. It is unknown if they will also direct the project, but they’ve already set Phil Hay and [...]

  • Little Women Greta Gerwig BTS

    Greta Gerwig and 'Little Women' Crew Mix Modern and Classical

    Greta Gerwig wrote and directed Sony’s “Little Women,” a new look at Louisa May Alcott’s much-loved 19th-century classic. Eager to pay tribute to her artisan colleagues, Gerwig says, “It was a joy for me to work with all these people. It’s a movie that’s impossible to create without world-class artists. They killed themselves for me!” [...]

  • Honey Boy

    Shia LaBeouf's 'Honey Boy' Adds Unusual Twist to Oscar's History With Kids

    Hollywood has made many terrific films about childhood, and many about filmmaking. Amazon’s “Honey Boy,” which opened Nov. 8, combines the two: A movie with a child’s POV of the industry. That unique angle could be a real benefit during awards season, and the film’s backstory — with Shia LaBeouf as the main attraction — will [...]

More From Our Brands

Access exclusive content