Disney sells Miramax Films for $650M

[ntscuser]

Disney has sold Miramax Films to construction executive Ronald Tutor and Colony Capital.

The sale includes rights to the Miramax name and its 611-movie library, according to The Hollywood Reporter.

The label sold for approximately $650 million (£431 million).

Disney put the former New York-based company up for sale earlier this year after folding it into its parent studio in Burbank.

Films produced under the Miramax label include There Will Be Blood, The Cider House Rules and Pulp Fiction.