Disney Unloads Miramax

Someone has finally agreed to buy Miramax, the piece of the magic kingdom that Disney has been trying to sell for months. Filmyard Holding, an investment group headed by the Los Angeles construction magnate Ron Tutor, will pay around $660 million for the studio and the 700 titles under its name, including Pulp Fiction and Shakespeare in Love. "Although we are very proud of Miramax's many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands," Disney CEO Bob Iger in a statement. It will be up to Tutor and his associated to now get Miramax moving again after Disney shut down its operations this year and closed its offices in New York and Los Angeles. Tutor said he plans to hire a seasoned Hollywood executive to run it.