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Post by The Ultimate Nullifier on Aug 30, 2017 22:08:10 GMT -6
www.hollywoodreporter.com/news/miramax-lays-20-more-employees-1034047The film studio axed roughly 20 back in May. Miramax, the independent film studio started by Bob and Harvey Weinstein, has continued with layoffs, letting go of 20 more employees, The Hollywood Reporter has confirmed. The most recent layoffs follow a series of firings that occurred in May, when Miramax cut 20 or more employees across divisions. After the first round of layoffs, recently instated CEO Bill Block said in a statement: "After careful consideration and consultation with the board, I have decided to reorganize the team at Miramax. This reorganization will allow me to lead a streamlined Miramax to grow in film, television and the licensing of our impressive library." The recent layoffs at the Santa Monica-based studio is meant to be part of that "reorganization," with the majority of the layoffs coming from the support staff. Founded by the Weinsteins in 1979, Miramax is responsible for hits like Pulp Fiction, Shakespeare in Love and Chicago. It was purchased in 1993 by Disney, the Weinsteins left in 2005 and Disney sold to Miramax to a group of private investors. In 2016, beIN Media Group acquired Miramax, which now has a library of more than 700 titles from the late 1980s to the present. In April, Block, the founder and CEO of production company QED, was named CEO of Miramax. The studio's most recently release was Bad Santa 2 in 2016, which grossed $17.7 million at the box office.
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Post by The Ultimate Nullifier on Aug 30, 2017 22:15:57 GMT -6
variety.com/2017/film/news/miramax-fires-20-more-employees-1202543382/Miramax Fires Another 20 Employees Miramax has laid off 20 more employees as part of ongoing cost-cutting efforts under CEO Bill Block, who joined the independent studio in April. It’s the second round of dismissals at Miramax under Block. The studio fired 25 employees, comprising most of its TV production staff, in May. Miramax was sold by its private equity owners last year to beIN Media Group, which owns 100% of the company. The company is a subsidiary of Qatar’s Al Jazeera. Miramax, which is based in Santa Monica, Calif., has a library consisting of nearly 800 titles from the late 1980s to the present. Its recently-announced productions include the Johnny Depp police drama “Labyrinth,” which Miramax will co-finance with Open Road Films. It also acquired U.S. distribution rights to the Tonya Harding biopic “I, Tonya,” starring Margot Robbie. 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.” During its 17 years as a Disney label, Miramax’s titles included “Pulp Fiction,” “Shakespeare in Love,” and “Good Will Hunting.” Miramax’s assets were acquired from Disney in 2010 by Filmyard Holdings, consisting of Colony Capital, Tutor-Saliba Corporation, and Qatar Investment Authority. CEO Stephen Schoch stepped down in December and was replaced by film finance veteran Block in April. The Los Angeles Times first reported the news about the layoffs.
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