By John Gambrell
DUBAI, United Arab Emirates (AP) --A Qatar-based media group that has already moved into international sports broadcasting has purchased a 100-percent stake in the film studio Miramax, part of its expansion into the entertainment business.
The beIN Media Group, which earlier spun off from Doha's Al-Jazeera network, bought the studio famous for "Pulp Fiction," ''No Country for Old Men" and "The English Patient" from investors including Colony Capital and the Qatar Investment Authority, the Gulf nation's sovereign wealth fund.
Terms of the deal were not disclosed in a statement announcing the purchase late Wednesday. The beIN network did not respond to requests for comment Thursday.
"Miramax is a successful film and television company, providing a strong and recognizable brand, a unique library and industry expertise that complement beIN Media Group's plans to grow across the entertainment industry and develop new content production," Nasser Al-Khelaรฏfi, beIN's chairman and CEO, said in the statement.
Producers Harvey and Bob Weinstein founded Miramax in 1979, naming it after their parents Miriam and Max. They built it into one of the most successful independents in the movie business, churning out many of the hits of 1990s independent cinema.
Walt Disney Co. acquired Miramax in 1993 for some $60 million. Disney sold the studio in 2010 to a group of investors for $660 million.
The move to purchase Miramax comes as beIN expands its presence across the world after purchasing rights to broadcast European football leagues and others sports. Qatar itself is spending tens of billions of dollars ahead of hosting the 2022 World Cup.
But the purchase also comes as Qatar faces pressure from low global oil and gas prices, which fuel its economy.
“Dune: Part Two” and “House of the Dragon” Win 2 HPA Awards Apiece
Dune: Part Two and House of the Dragon each scored two HPA Awards during a gala ceremony at the Television Academyโs Wolf Theatre in North Hollywood, Calif. on Thursday night (11/7). The HPA Awards honor trailblazing talent in the postproduction industry, celebrating standout achievements in color grading, sound, editing, restoration, and visual effects across theatrical features, commercials, and episodics.
Dune: Part Two topped the Outstanding Color Grading--Live Action Theatrical Feature and the Outstanding Sound--Theatrical Feature categories.
House of the Dragonโs two wins were for โThe Red Dragon and the Goldโ episode which scored for Outstanding Visual Effects--Live Action Episode or Series Season, and Outstanding Editing--Episode or Non-Theatrical Feature (Over 30 Minutes). In the latter HPA Creative Category, House of the Dragon tied with the โPart Six: Far,l Far Awayโ episode of Ahsoka.
The HPAโs Judges Award for Creativity and Innovation honored Taylor Swift | The Eras Tour. This recognition celebrates the profound impact on both live and filmed entertainment that defined The Eras Tour, underscoring its exceptional impact on audiences and the industry. The jury issued a statement outlining their choice: โCelebrated as the cultural phenomenon of 2023, Taylor Swift | The Eras Tour set new records in box office sales, tour revenues, and attendance. The tour showcased exceptional artistry and innovation, making a profound impact on both live and filmed entertainment.โ
This year, FotoKem was awarded the Charles S. Swartz Award for its role in supporting filmmakers, studios, cinematographers, and artists across diverse film and media landscapes. Also celebrated... Read More