Making changes in their company, The Walt Disney Co. has opted to sell Miramax Films to a group of private investors for $660 million.According to reports, Disney had been looking to unload Miramax since January - as they felt obliged to focus on more in their family centric studio units including Marvel and Pixar.
Of the decision, Disney President and CEO Robert Iger said, "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."
Iger added, We are delighted that we have found a home for the Miramax brand and Miramax's very highly regarded motion picture library."
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