Qatari firm buy Miramax

The iconic film company has been purchased by BeIN...

Qatari firm buy Miramax

Harvey Weinstein, who founded Miramax with his brother Bob. Picture by: Richard Shotwell / AP/Press Association Images

BeIN Media Group has acquired the US film studio that gave the world the likes of Pulp Fiction, Shakespeare in Love and No Country for Old Men.

Miramax, founded by Bob and Harvey Weinstein, recently started investing in films once again, including the upcoming Bridget Jones's Baby. BeIN made the acquisition from a group of investors that includes the Qatar Investment Authority for an undisclosed sum.

Steve Schoch, Miramax CEO, said: "In concert with BeIN leadership, we look forward to further expanding our film and television output, broadening our distribution capabilities and fortifying our position as the premiere independent studio brand."

Miramax currently boasts a library of over 700 titles and has had a newsworthy ownership history since the Weinstein brothers set it up in 1979.

In 1993, the iconic independent company was acquired by Walt Disney for $60 million. The brothers stayed on board until they established their own Weinstein Company in 2005.

In 2010, the Weinsteins were unsuccessful in purchasing the company back from Disney, who eventually sold it to the consortium involved in the latest deal.

BeIN, which has movie and sports channels in 24 countries, will see the acquisition as an important part in their plans to grow in the entertainment industry and develop new content.