eugonline > IDLE CHATTER: Ax Falling At Miramax?

IDLE CHATTER: Ax Falling At Miramax?

Word is that Miramax will cut more than one-third of its workforce this week. News reports over the past day, including a Reuters story that quotes "a person familiar with the situation" says that cuts could affect 120 jobs at the company. I asked for a comment earlier today and was told that Miramax does not comment on speculation.

Cuts have been expected within the company for some time, as has a move by Harvey Weinstein to set up his own new company, while Bob Weinstein would remain at Miramax. Online tonight, Matt Drudge wrote that Disney will meet with Miramax this week to discuss that scenario.

UPDATE: No doubt Drudge's "source" for his speculation about Miramax is a fresh, lengthy New York Times story from tomorrow's paper that will certainly have people buzzing:

Representatives for the Walt Disney Company and its subsidiary, Miramax Films, are expected to meet this week to discuss an agreement that would allow Miramax's co-founder, Harvey Weinstein, to start a production company, while his brother Bob remains at Disney to make movies, according to people involved in the talks.

Posted by eug on Aug 9, 2004 at 10:27PM | Filed under the industry

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