The indie studio had been seeking a buyer for its 700-title library.
The Hollywood ReporterThe Los Angeles-based company, which has been run by CEO Bill Block for the last two years, has been on the auction block for months as it looks to sell itself and its 700-plus titles, including Oscar winners like The soon-to-be-merged ViacomCBS had been seen as a potential buyer for Miramax, as the conglomerate has been speculated to be on the hunt for assets as mogul Shari Redstone builds up the recombined company.
The market for library assets has picked up steam as multiple conglomerates — including Disney and AT&T's WarnerMedia — look to challenge Netflix in the direct-to-consumer space with their own streamers with thousands of hours of film and TV content. The studio was founded by Bob and Harvey Weinstein in 1979 and distributed titles like Steven Soderbergh'sDisney bought the company in 1993, before it produced a slew of prestige films including
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