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This excerpt taken from the DIS 10-K filed Nov 22, 2006. Miramax In March 2005, the Company entered into agreements with Miramax co-chairmen, Bob and Harvey Weinstein, and their new production company. Pursuant to those agreements, the Company, among other things, substantially resolved all economic issues relating to the Weinsteins’ existing employment agreements; terminated the Weinsteins’ then-existing employment agreements and entered into revised employment agreements with them through September 30, 2005; sold interests in certain films in various stages of production to the Weinsteins’ new company; and provided it with the opportunity to acquire certain development projects, as well as sequel rights to certain library product. The Company retains certain co-financing, distribution, and participation rights in several of these properties. The Company also retains the Miramax and Dimension film libraries and the name “Miramax Films,” while the Weinsteins took the Dimension name to their new company. No material charges were recorded as a result of the execution of the agreements. This excerpt taken from the DIS 10-K filed Dec 7, 2005. Miramax
In March 2005, the Company entered into
agreements with Miramax co-chairmen, Bob and Harvey Weinstein,
and their new production company. Pursuant to those agreements,
the Company, among other things, substantially resolved all
economic issues relating to the Weinsteins’ existing
employment agreements; terminated the Weinsteins’ existing
employment agreements and entered into new employment agreements
with them through September 30, 2005; sold interests in
certain films in various stages of production to the
Weinsteins’ new company; and provided it with the
opportunity to acquire certain development projects, as well as
sequel rights to certain library product. The Company retains
certain co-financing, distribution and participation rights in
several of these properties. The Company also retains the
Miramax and Dimension film libraries and the name “Miramax
Films,” while the Weinsteins have taken the Dimension name
to their new company. No material charges were recorded as a
result of the execution of the agreements and the Company does
not currently anticipate that it will incur material charges in
connection with the remaining Miramax projects.
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