Disney has decided to shut down Miramax Films, the art-house production company founded by brothers Bob and Harvey Weinstein in 1979 and  bought by Disney in 1993 (The Weinsteins left in 2005 over a creative dispute).  Miramax has been credited for launching the careers of directors such as Quentin Tarantino, Kevin Smith and Steven Soderbergh. produced Oscar winners such as “Shakespeare in Love”, “The Piano” and “Chicago”, has been closed down by the Walt Disney Company, the Los Angeles Times reported Friday. 

Apparently, Disney plans to keep Miramax alive as a brand in name only.  This means that around 80 people in New York and Los Angeles offices will lose their jobs.