A report from Bloomberg confirms that Viacom is currently in the lead for a deal that would give the company rights to a portion of the Miramax library.
Viacom took the lead when Lionsgate withdrew their bid, though a source says that they may come back as there is no deal in place yet.
beIN Media Group is interested in selling their portion of the content library. That decision was confirmed this summer, with initial interest shown by Lionsgate and Viacom. At that time, the studio was valued at $650 million. Since then, sources have said that the estimated value is closer to $325 million.
If a deal between Viacom and Miramax is reached, Viacom would obtain over 700 titles, as well as an interest in future projects. Sources say that Viacom’s interest in Miramax stems from the rise in streaming services as the company looks for more content for their own portfolio. Early this year, Viacom purchased the free streaming service Pluto TV giving Viacom the opportunity to be a part of the streaming world.
Now that Viacom and CBS have merged, the company has the resources to put in a strong offer for Miramax content and to make good use of the film library.
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