Disney to slash Miramax Films staff to 20, reduce releases to 3 a year
October 3, 2009Walt Disney Co., looking to rein in costs at its Hollywood studio as it focuses on mainstream movies, is slashing staff by 70% at its Miramax Films specialty label and is substantially reducing the number of pictures it releases.
The retrenchment, which has been foreshadowed in Disney Chief Executive Robert Iger’s strategy to emphasize family and “branded” films, comes quickly on the heels of the recent ouster of former Disney Studios Chairman Dick Cook. The former movie chief left abruptly last month under pressure from Iger, who had been unhappy with the studio’s direction and performance.
Under the plan disclosed after Disney’s board meeting Friday, Miramax is being forced to eliminate 50 of the division’s 70 jobs and cut in half the number of films it releases to just three a year. The label’s marketing, distribution and administrative functions, which had operated independently, will be folded into the parent studio in Burbank. The move becomes effective in January.
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