|Harvey (left) and Bob Weinstein are staying with longtime media agency Palisades Media Group in their new film venture.
WALT DISNEY CO. AND MIRAMAX FOUNDERS OFFICIALLY SPLIT
Bob and Harvey Weinstein to Form New Company
Weinstein Co.'s founders are Bob and Harvey Weinstein, who also founded the famed film company Miramax in 1979. Palisades had been Miramax's media agency from 1996 until April 2003, and resumed media buying and planning for the company in 2004.
The Walt Disney Co. acquired Miramax in 1993 for $70 million, but the Weinsteins, who had a public falling out with Disney, are leaving the company at the end of September.
The fate of Miramax's media-buying account, about $200 million, is unknown, according to executives familiar with the situation, but is likely to be consolidated with Disney's media-buying unit, Publicis Groupe's Starcom. Disney recently named Daniel Battsek, head of Buena Vista International in the U.K., as president of Miramax.
Weinstein Co. has acquired a slate of films for release next year.