Walt Disney Co has struck a deal to sell Miramax, the studio behind such films as “Trainspotting” and “No Country for Old Men,” for more than $660 million to a group that includes construction magnate Ron Tutor and investment firm Colony Capital LLC. The deal marks the culmination of a drawn-out sale that attracted star-studded bidders, including the Weinstein brothers, who founded the studio. The new owners will focus on maximizing the value of Miramax's library, a source familiar with the situation said. No production operations exist at this time and there are no current production plans, the source said. The sale underscores Disney's plans to focus its film resources on bigger film properties such as “Pirates of the Caribbean” and exploit them across various platforms. The sale to the group Filmyard Holdings, which comprises Tutor, Colony Capital and other partners, includes rights in more than 700 Miramax movie titles, including Academy Award winners such as “Chicago” and “Shakespeare in Love,” Disney said. Disney bought Miramax 17 years ago for $80 million.
