Actor Rob Lowe, in partnership with an investor group, may buy the Miramax Films brand for $660 million, more or less. The Walt Disney Company reportedly agreed today to sell their Miramax subsidiary to a gathering led by a non-Hollywood entrepreneur, Ronald Tutor and his Filmyard Holding company. The deal could close by early September. Other investors include the real estate investment group, Colony Capital LLC.
Reportedly, Rob Lowe comes into the picture as a Colony-Tutor association ‘creative partner.’ Miramax has some 700 films under its banner with several Oscar© winners. Resources include books and ongoing projects, along with its prestigious marquee. “Although we are very proud of Miramax’s many accomplishments,” Disney president and CEO Robert A. Iger said, “our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands.”
Lowe has been a Hollywood survivor through a long feast to famine career. His enormous drive and good fortune have made him a household name when he should have been a footnote and punchline long ago. Pluck and luck; everything needed for being a successful studio tycoon.