Exclusive: In a major change at Miramax, CEO Bill Block will exit the company this week, a move that will come on Tuesday when his contract expires. There doesn’t appear to have been much, if any, negotiation on a new deal for Block, raising questions about exactly what areas the multi-faceted company will focus on.
Block’s exit comes at a time when he was the catalyst for a large amount of film work. Block was appointed CEO in 2017.
Miramax, which is 51% owned by beIN and 49% owned by ViacomCBS, has turned from the days when its value lay in the film library built by Bob and Harvey Weinstein at the time. It has become a prolific generator of original projects, some of which build on the library’s intellectual property. When Block was hired, the company had $150 million in debt and high overhead expenses that were cut through moves that included cutting headcount by 30%. According to internal documents seen by Deadline, since 2017 Miramax has doubled its revenues and nearly quintupled its profits, under Block’s leadership.
The first film greenlit under Block was a successful relaunch of Halloweenand subsequent outputs are included I’m Tonyafilms directed by Guy Ritchie Gentlemen, Operation Luck And The man got angry; Block was in Telluride and Toronto for the film’s launch Retainersa comedy that brings together director Alexander Payne with him Sideways Stars Paul Giamatti, in a CD acquired by Focus Features for a record sum at the Toronto Film Festival; Next up is the franchise play directed by David Ayer beekeeper With Jason Statham. And for the 2024 Oscar season there hereIt is an adaptation of Richard McGuire’s novel, which will be distributed by Sony. This movie hits forrest gump A renewed team of director Robert Zemeckis and screenwriters Eric Roth, Tom Hanks and Robin Wright. There are other projects in the pipeline.
On the television side, over the past three years, Miramax Television has put three series on the air — more than the company had produced in the previous decade — a Guy Ritchie series. Gentlemen On Netflix, Green Light Project With Issa Rae in Max and Turkish investigator At Paramount.
Digging into the independent studio’s IP library has been a major goal for series in development based on Miramax films like Confessions of a Dangerous Mind, Gangs of New York, chocolate, The English Patient And brit a porter, In addition to Gentlemen Adaptation for the upcoming series and Green Light Project Revival is All This, the new series of the Miramax Library title It’s all of thatwho starred in TikTok hack Addison Rae.
What does this mean for the future direction of Miramax? We’ve heard that the company will focus more on distributing the library and projects derived from this IP. Block certainly did a solid enough job and will likely resurface soon. Attempts to reach Miramax were futile.
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