Miramax Plans $142 Million Dividend Payment to Entrepreneurs

NY - Miramax expects to boost $550 million utilizing a bond offering to cover a dividend around $142 million to entrepreneurs and re-finance existing debt at lower interest rates, Bloomberg News reported.our editor recommendsNetflix Shuts U.K. Streaming Deal With Miramax FilmsMiramax Boss on UltraViolet: We've No Choice The studio's entrepreneurs include Tom Barrack's Colony Capital. Your financial troubles the organization is searching to re-finance was utilized when Colony and investor Ron Tutorbought the studio within the Wally Disney Co. last December for $660 million. Beneath the leadership of Boss Mike Lang, a classic News Corp. executive, Miramax has signed online distribution handles Netflix and Hulu, among others, to monetize its content. An outdoors speaker for Miramax and Colony told Bloomberg the companies did not have discuss your financial troubles offering. The offering is backed by Miramax's library more than 700 films and 14 TV series, The studio had formerly signaled it could use re-finance debt, but didn't detail simply how much then when, according to Bloomberg. Related Subjects Mike Lang Tom Barrack Miramax Films