Disney Finally Offloads Miramax

After some dramatic back-and-forth with buyers, the Walt Disney Co. was finally able to sell Miramax Films to a group of investors for $663 million. Filmyard Holdings LLC is the new owner, though the financial details about the ownership and debts of the company were not made available. The sale of Miramax, which closed Friday, marks the end of a struggle for Disney in the battle against the relatively low value of film libraries. There will be a six-month transition period, where Disney will still manage Miramax’s library of 700 films, which include some notable films like Reservoir Dogs and Shakespeare in Love.