QATAR BEIN MEDIA GROUP ACQUIRES MIRAMAX

DOHA, Qatar, Mar 4 percent of Miramax, one of the most distinguished and recognisable brands in entertainment, and synonymous with award-winning and original content.

Selling shareholders include Qatar Investment Authority (QIA) and Colony Capital.

In 2016, Miramax will invest in and co-distribute several upcoming feature films, including Bad Santa 2, Bridget Jones Baby, Southside With You and The 9th Life of Louis Drax, as well as, the television show, From Dusk Till Dawn: The Series, heading into its third season.

Last year Miramax’s slate included the critically acclaimed Mr Holmes, one of the year’s most successful independent films, and the comedy hit, The Wedding Ringer.

Additionally, Miramax continues to thrive with its library, which holds over 700 titles that collectively have garnered 278 Academy Award nominations and 68 Oscars, including Best Picture winners, The English Patient, Shakespeare in Love, Chicago and No Country for Old Men.

Commenting on the transaction, beIN Media Group Chairman and Chief Executive Officer (CEO), Nasser Al-Khelaifi, said that, the group was extremely excited to have achieved this key milestone within its strategy.

“Miramax is a successful film and television company, providing a strong and recognisable 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.”

He noted that, Miramax was one of the most iconic film brands in the world, housing a collection of the most celebrated and valued content libraries and management teams in Hollywood.

Thomas J Barrack Jr, founder of Colony Capital said, “We are fortunate to have found Nasser Al-Khelaifi and beIN Media Group, as the best of global class curator for the purpose of Miramax’s growth and continued legacy.”

Steve Schoch, CEO of MIRAMAX said, “In concert with beIN leadership, we look forward to further expanding our film and television output, broadening our distribution capabilities and fortifying our position as the premiAre independent studio brand.”

The beIN Media Group, headquartered in Doha, Qatar, is a leading global media company, which includes the beIN Sports network, which provides exclusive access to prime sport competitions, as well as, the beIN Movie channels.

It is also involved in pay-tv distribution.

The Group is present in France, Spain, the US, Canada, Indonesia, the Philippines, Hong Kong, Thailand, Australia and in 24 countries of the Middle East and North Africa (MENA).

Miramax is a global film and television studio, best known for its award-winning production and original content.

Source: QNA