ViacomCBS & beIN Complete Miramax Deal

ViacomCBS and beIN MEDIA GROUP have officially closed their previously announced Miramax transaction.

ViacomCBS has acquired a 49 percent stake in Miramax, while beIN retains a 51 percent stake in the company. Miramax’s current leadership team will continue in their existing roles.

The acquisition marked a total committed investment of $375 million. Approximately $150 million was paid at closing, while ViacomCBS has committed to invest $225 million—comprised of $45 million annually over the next five years—to be used for new film and TV productions and working capital.

Additionally, Paramount Pictures entered into an exclusive, long-term distribution agreement for Miramax’s film library and an exclusive, long-term first-look agreement allowing Paramount Pictures to develop, produce, finance and distribute new film and TV projects based on Miramax’s IP.

Nasser Al-Khelaifi, chairman of beIN MEDIA GROUP, said, “This represents a major investment in and endorsement of our thriving Miramax business, which has grown in value under beIN MEDIA GROUP’s ownership and has a fantastic future ahead with major new movies and unexploited premium dramas. We are thrilled to partner with ViacomCBS and Paramount to explore further opportunities around Miramax’s iconic IP, and also at a group level; while substantially increasing the scale of our entertainment business. This deal further underlines beIN’s ambitions on the global stage—we are very proud to have established ourselves as one of the leading groups in sport, entertainment and media.”