Disney Announces Split With Weinsteins

Disney's Clark said the company felt that too much money was being directed toward movie production costs, and the company is expected to operate Miramax on a much smaller budget than the reported $700 million it was spending annually under the Weinsteins.

Harvey Weinstein said the brothers' new venture will release 15 to 20 films next year, some of which will be co-financed with Disney. And the new Weinstein venture will retain the services of Tarantino, Minghella and Kevin Smith, among other notable directors. The Miramax name, created in homage to the Weinsteins' parents, Miriam and Max Weinstein, will remain Disney's. But Harvey Weinstein suggested the discussion of rights to the name might not be complete.

"I think that was the toughest part of the whole negotiation," he said. "Maybe that whole story hasn't been written yet, but maybe it has."

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