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ViacomCBS Agrees to Buy 49% of BeIN’s Miramax for $375 Million

Dec. 20, 2019, 2:42 PM

ViacomCBS Inc. agreed to buy a 49% stake in independent film studio Miramax from BeIN Media Group for $375 million, in the entertainment conglomerate’s first major acquisition since Viacom and CBS formally reunited this month.

The deal brings ViacomCBS’s Paramount Pictures one of Hollywood’s most storied movie libraries, which includes Academy Award winners such as “Chicago,” “Shakespeare in Love” and “No Country for Old Men,” along with cult classics like “Pulp Fiction.” Paramount will also have the right to develop and distribute new film and television projects based on Miramax’s intellectual property.

Entertainment companies are jostling to lock down film ...