Miramax Studios is closing its offices in New York City and Los Angeles on Thursday and will end operations as of Friday, the company announced in a statement, according to The Wrap.
The closing of the two offices will leave 80 people unemployed, the company said.
The Studios distributed critical and commercial movies such as Quentin Tarantino's Reservoir Dogs, Pulp Fiction, and hits like Shakespeare in Love, Good Will Hunting, The English Patient, The Talented Mr. Ripley, and Chicago.
I'm feeling very nostalgic right now. I know the movies made on my and my brother Bob's watch will live on as well as the fantastic films made under the direction of Daniel Battsek. Miramax has some brilliant people working within the organization and I know they will go on to do great things in the industry, Harvey Weinsten said, according to Movieweb.com today.
Miramax Studios was formed in 1979 by brothers Harvey and Bob Weinstein and was acquired by Disney in 1993. The company has reportedly six films awaiting for distribution, including Last Night, The Debt, and The Tempest, according to The Wrap.