Disney sells miramax film studios

The investors, Filmyard, includes construction magnate Ron Tutor and investment firm Colony Capital.  Disney has been negotiating with potential buyers for months to sell the division, which has made films such as Pulp Fiction and Shakespeare In Love.

Earlier this week, Disney bought the social gaming developer Playdom. "Although we are very proud of Miramax's many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands," Disney's chief executive Robert Iger said.