Viacom/Paramount Bail From Negotiations for Miramax Film Library (Exclusive)
Viacom and Paramount Pictures have called off negotiations to acquire the Miramax film library, multiple insiders familiar with the talks told Variety.The media company and studio sent a letter today to Miramax owners beIN Media Group, which acquired the indie company in 2016, retracting their interest in further pursuing a deal.
A spokesman for Viacom declined to comment as did a representative from Miramax.One individual close to the negotiations said there were issues that derailed the talks but cautioned that it remains possible that discussions could resume.Another source said that Viacom/Paramount became frustrusted over the deal terms and the fact that the talks had dragged on for months.
Variety first reported on the negotiations in early September, when the library had an estimated value of at least $100 million.The acquistion would have complimented Paramount’s storied library with over 800 titles, including such iconic films as “Pulp Fiction,
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