The Weinstein Brothers Return to Miramax in New Deal

Harvey and Bob Weinstein, who founded Miramax in 1979 and sold it to Disney, have struck a new production and distribution deal with the company.

The L.A. Times described the deal as a "reunion they've long sought … Under terms of the 20-year agreement, the companies will collaborate on new content as well as projects that mine Miramax's library. The deal encompasses film, television and live stage productions."

This new venture means producing sequels to the Best Picture Oscar winner "Shakespeare In Love" and "Rounders", as well as series transfers of "Good Will Hunting" and "Flirting With Disaster."

“It’s like unlocking a kingdom full of gold, which Tom describes as diamonds,” said Harvey Weinstein in a Deadline article. “In an age where there is so much demand for television, we see a lot of TV series. I personally have never made a sequel, but I will make Shakespeare In Love as one. I’ve always wanted to do that and now we have the impetus to. There is so much intellectual property, and we’re in an age where, for however long it lasts, content is king."

The Weinstein brothers sold Miramax to Disney in 1993 for about $60 million. They formed Weinstein Co after departing Disney following a dispute in 2005.

"It's wonderful to reunite the brothers Weinstein with the library," said Jason E. Squire, a film business professor at the USC School of Cinematic Arts, in an L.A. Times article. "Its really a full-circle sort of experience. That hasn't happened too often in the history of the movie business."

In other recent news, Sundance Institute just announced the 12 candidates who have been invited to workshop their scripts at the 2014 Screenwriters Lab in January at the Sundance Resort in Utah. Check out Cameron Cubbison's post.