The extensive library and potential franchise rights, in fact, may be a tremendously valuable asset in the streaming era.
, citing unnamed sources. The studio cycled through a variety of owners before it was purchased three years ago by beIN Media Group, a subsidiary of Al Jazeera, which is owned by the government of Qatar.
Other suitors, including Spyglass Media Group, which previously acquired the assets of the Weinstein Co., have bowed out of the bidding, leaving Viacom as a likely equity partner even as it is in the midst of merging with CBS to create a merged company that will be dubbed ViacomCBS.
The soon-to-be ViacomCBS also has streaming ambitions beyond CBS All Access and Showtime's over-the-top service, which, together, should have 25 million subscribers by 2022, executives have said. Analysts have speculated that ViacomCBS would be on the hunt for acquisitions once their merger is finalized, with Discovery Communications being floated as a possibility, along with AMC Networks, MGM or even pieces of Rupert Murdoch's Fox Corp, whose primary assets after selling off most of the conglomerate to Disney consists of the Fox broadcast network and Fox News.
Disney purchased Miramax for $60 million in 1993 and sold it 17 years later for $663 million. The Weinstein brothers named the company after their parents, Miriam and Max, and departed the firm in 2005 to create The Weinstein Co., which Lantern Capital purchased out of bankruptcy following harvey Weinstein's sex scandal. It operates now as Spyglass.
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