Miramax, the onetime indie film powerhouse founded by the Weinstein brothers, has laid off 20 employees in a second round of downsizing this year under a new CEO.
The Santa Monica film and television company let go of executives in the sales and finance departments, as well as workers in support roles, according to a person with knowledge of the matter who was not authorized to comment publicly.
A spokeswoman for the company, now owned by Qatari broadcaster BeIN Media Group, confirmed the staff reductions but declined further comment.
The layoffs come after the company let go of about 25 staffers in May — a move that occurred weeks after veteran film producer Bill Block of the then roughly 100-employee operation.
“After careful consideration and consultation with the board, I have decided to reorganize the team at Miramax,” said Block in a statement at the time. “This reorganization will allow me to lead a streamlined Miramax to grow in film, television and the licensing of our impressive library.”
Founded by Harvey and Bob Weinstein in 1979, Miramax was a dominant player in independent film for two decades, releasing critical and commercial hits including “Pulp Fiction,” “Good Will Hunting,” and “Shakespeare in Love.” The pugnacious brothers sold the production house to Walt Disney Co. in 1993 and left it 12 years later. They now run an eponymous film and television company.
Disney sold Miramax to a group of investors led by private equity firm Colony Capital and construction magnate Ronald Tutor for $660 million in 2010.
Doha-based BeIN, which operates TV channels across several continents, for an undisclosed sum.
Miramax has a large film library that includes acclaimed films such as “The English Patient” and “Chicago,” but some of the company’s recent movies, such as 2016’s “Bad Santa 2,” have struggled at the box office.
Times staff writer Stephen Battaglio contributed to this report.