Harvey and Bob Weinstein Say Goodbye To Miramax and Disney

By Linda Orlando

When the Walt Disney Company bought Miramax Films, they announced that they would not renew the contracts of Harvey Weinstein and his brother Bob to run the unit. As the Weinsteins and Miramax prepare to part company, many Hollywood power players are voicing their appreciation for the duo who either started them in the business or helped them learn valuable lessons the hard way. Certainly the Weinsteins had their own way of doing business, and they weren’t famous for giving people warm and fuzzy feelings, but they were famous for not thinking small. They consistently stuck to the principle that there is no such thing as a small film, only small audiences.

As part of the deal with Disney, the Weinsteins will reportedly get $100 million and will be able to keep Dimension Films, while Disney will keep Miramax, the studio named after the Weinsteins’ parents, Miriam and Max. The brothers have agreed to stay on long enough to market several Miramax movies that have already been completed, since their releases are all scheduled to take place before the official Weinstein departure on September 30. These movies include "Hostage," with Bruce Willis, "The Great Raid," starring Benjamin Bratt, and Gwyneth Paltrow’s "Proof." In fact, the record-setting brothers are planning to leave Miramax with as big a flourish as they can, possibly releasing as many as 22 movies during the next seven months, including some troubled films that had been shelved or postponed. In an effort to clear things out before the new management takes hold, some of the films may go straight to cable and/or DVD, rather than being released theatrically.

One of these films, "Prozac Nation" starring Christina Ricci, has been shelved for more than four years, so the Weinsteins departure may actually be its ticket to the screen at last. The push to release masses of movies is definitely a change in approach, since Miramax released only six movies during the last half of 2004, with several releases timed specifically to position them for Oscar nominations. Not a bad strategy, since two of the five films nominated for best-picture Oscars—The Aviator and Finding Neverland—are Miramax productions.

The Weinsteins have also agreed to work at reducing Miramax’s budget to less than $350 million for the fiscal year, which is only about half of the $700 million their contract allowed them to spend. In exchange for their willingness to leave a clean slate for Disney, the Weinsteins will be able to get their new unnamed company up and running by beginning production on films already in the works. They have already sought financing on Wall Street, and they are looking for a partner to distribute the movies. The Weinsteins have a terrific track record for success that should help them in such an effort, having worked with award-winning directors including Quentin Tarantino, Anthony Minghella and Robert Rodriguez.

Some longtime Miramax staples are planning to follow the Weinsteins right out the Disney door, including director Kevin Smith of "Chasing Amy" and "Dogma" fame. Smith plans to hold up production of his "Clerks" sequel, "The Passion of the Clerks," so that he can enlist the aid of the Weinstein brothers. According to Smith, "My allegiance is to Harvey and Bob."