indieWIRE reports that Disney has finally sold its adult "indie" company Miramax to Filmyard Holdings, LLC. Disney acquired Miramax in back in 1993, when Miramax was already established as a powerhouse indie company. In more recent years, Miramax films bowed out to stronger Disney arms such as Buena Vista Films. Although still significant, the company has yet to recover from the departure of its founders, the Weinstein Brothers, who went on to start The Weinstein Company in 2005. As the story goes, Miramax's name came from Miriam and Max Weinstein, the Weinstein Brothers' parents.
Miramax reached 30 last year. Although a cause of celebration, it was also the year Miramax cut 70% of its staff.