We'd always kind of hoped that Bob and Harvey Weinstein would leave their family the old fashioned way, by saying they were going out for cigarettes, poignantly mussing their kids' hair for the last time, and disappearing forever. But the Weinstein brothers have left Miramax and Disney the classy way, by an intimate e-mail to their staff and a press release. Don't worry, Miramaxers, the guys are sticking around through the end of September to make sure that all necessary beatings are doled out before they start their new business venture. The e-mail and press release follow:

To the Miramax and Dimension Staff —-

We recognize that the past several months have been especially challenging and we are extremely grateful for your patience, understanding and continuing contributions to Miramax and Dimension's success. We understand that the speculation about the company's future has created uncertainty for each of you and we truly appreciate your ongoing professionalism and performance.

We would like you to be the first to know that we have reached an agreement with the Walt Disney Studio resolving the terms of our current employment agreement.

We will continue as the Company’s Co-Chairmen through September 30th, overseeing the completion of projects currently in production and the marketing and distribution of the films scheduled for release before September 30th. Please also be assured that nothing in our agreement in any way modifies any of the provisions of any employment agreement between Miramax and any Miramax employee, all of which will continue to apply in accordance with their terms.

We're very proud of the company we've built over the past 25 years and of the films that, with your help, we've been able to bring to audiences around the world. As we are completing one chapter, we are preparing to begin the next.

As the work at Miramax continues, we are also preparing to launch our new company in the near future, and look forward to spending time in both the LA and NY offices discussing with you our future plans and potential employment opportunities with our new company. While, under our new agreement with Disney, we have agreed to certain changes, including not making new financial commitments towards the development, acquisition or production of projects on behalf of Miramax, this does not apply to our activities for our new Company, and we plan to immediately begin scouting out new projects for it to pursue.

We're sure that you'll have many questions. Human Resources will be doing everything possible over the coming weeks to answer your questions and smooth everyone's transition as we approach Sept. 30.

Attached please find the press release announcing our agreement with Disney, which will be made public shortly.

Thanks again for your incredible performance over the years and your patience with this process.

Bob and Harvey

If you've got a dry tissue to wipe away the mascara that's now streaking across your face, here's the press release:

THE WALT DISNEY STUDIOS AND BOB AND HARVEY WEINSTEIN REACH MUTUAL AGREEMENT CONCERNING EMPLOYMENT CONTRACT

Miramax Co-Chairmen to remain at company thru
September 2005
Will oversee upcoming releases while preparing for
launch of their new company

The Walt Disney Studios and Miramax co-chairmen Bob
and Harvey Weinstein have reached a mutual agreement
concluding the Weinsteins current deal with The Walt
Disney Company, it was jointly announced today by Dick
Cook, chairman, The Walt Disney Studios and Bob and
Harvey Weinstein.

The Weinsteins will remain co-chairs of Miramax on a
non-exclusive basis through September 30, 2005. During
this period, they will focus their efforts on
completing projects currently in production and will
oversee the marketing and distribution of Miramax and
Dimension films scheduled for release. Cook will
announce new management of Miramax Films in July 2005.
During a transition period that will last from July
through September, the Weinsteins will work with the
new Miramax leadership, which will report directly to
Cook. The Weinsteins will make no new financial
commitments towards the development, acquisition or
production of projects on behalf of Miramax.

Bob and Harvey will own and operate a new company,
which is currently being developed, and they will
immediately begin the production, development and
acquisition of new projects for their new venture.
Details about the Weinsteins new company, including
its name, financial backers and other specifics, will
be announced during the next several weeks.

The Walt Disney Studios will retain the name “Miramax
Films” and the Miramax and Dimension film libraries,
while the Weinsteins will take the Dimension label to
their new company.

The Walt Disney Studios and the Weinsteins, through
their new company, will continue their relationship by
potentially collaborating on as many as 25+ projects
including, but not limited to, co-productions of
sequels to hit film franchises like Scary Movie and
Spy Kids, and by co-financing the production and
distribution of original films including Breaking and
Entering and The Matador.

An announcement about the future plans for Miramax
Books will be made later this week.

“Bob and Harvey are talented creative executives who
have brought some of the finest award winning films to
the big screen,” said Cook in making the announcement.
“Through this mutually beneficial arrangement, we
will continue our relationship with the Weinsteins and
their new company well into the future, while focusing
our efforts on Miramax.”

“Disney’s film library has benefited tremendously from
the groundbreaking and critically acclaimed films
developed under Harvey and Bob,” said Robert A. Iger,
president and chief operating officer and CEO-elect,
The Walt Disney Company. “Their creative instincts are
undeniable, and they have developed a valuable asset
for this company. We look forward to future
collaborations with them through this newly
established relationship.”

“Harvey and Bob’s unprecedented 12-year association
with Disney will go down in the motion picture annals
for its unparalleled contributions to independent
filmmaking and the entrepreneurial creative spirit
they fostered within a corporate environment,” said
Michael Eisner, CEO, The Walt Disney Company. “The
Weinsteins’ passion and enthusiasm for film are
infinite and will thrive wherever their vision takes
them.”

“We are incredibly grateful for the chances we have
been given at Disney over the past 12 years. As movie
fans, we truly appreciate the unique opportunities we
have had to work with some of the greatest talent,
both on screen and off, in sharing such a wide range
of independent and foreign films and Miramax and
Dimension productions with audiences around the
world,” said Bob and Harvey Weinstein. “We are
thankful to Dick Cook for his commitment to making
this agreement possible and we appreciate Bob Iger’s
contributions too. We know that there is no bigger fan
of our movies than Michael Eisner and think it was
pretty brave of him to give us the ability to make
movies like Hero and City of God. We look forward to
working with Bob and Dick and everyone else at Disney
on projects in the future. We've nurtured Miramax over
the past 25 years and are proud of the valuable film
library we've built for Disney shareholders.”

Since being acquired by The Walt Disney Company in
1993, Miramax Films has received 220 Academy Award
nominations, winning 3 Best Pictures and 53 total
Oscars. The company received 14 Best Picture
nominations for The Aviator (2004), Finding Neverland
(2004), Chicago (2002), Gangs of New York (2002), In
the Bedroom (2001), Chocolat (2000), The Cider House
Rules (1999), Shakespeare In Love (1998), Life Is
Beautiful (La Vita É Bella) (1998), Good Will Hunting
(1997), The English Patient (1996), Il Postino (The
Postman) (1995), Pulp Fiction (1994), and The Piano
(1993).

Some of Miramax and Dimension’s highest grossing films
include Chicago, Good Will Hunting, Pulp Fiction,
Scary Movie, Scary Movie 3, Scream, Scream 3,
Shakespeare in Love, Spy Kids, and Spy Kids 3D Game
Over.

• Weinstein and Disney Divorce Finalized? [Defamer]

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