X17 News

LOS ANGELES, California (X17online) - Disney has sold Miramax Films to Filmyard Holdings LLC for $660 million. The deal won't be finalized until later this year ... between Sept. 10th and the end of December.

The sale will also include the rights to over 700 film titles like Chicago and No Country for Old Men.

Disney CEO Robert Iger released the following statement:

"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. We are delighted that we have found a home for the Miramax brand and Miramax's very highly regarded motion picture library."

LOS ANGELES, California (X17online) - Disney has pulled its application to trademark "Seal Team 6," the U.S. Navy's primary counter-terrorist unit who captured and killed Osama bin Ladin.

The action took place days after the Navy tested Disney's shot to trademark the name of the team.

A rep for Disney stated the company is withdrawing its application "out of deference to the Navy."

In the days following the news of bin Laden's death on May 3, Disney filed the trademark application, which covered everything from games to clothing. However, on May 13, two applications were filed from the Navy.

The applications seek for trademark standing for "SEAL Team" clothing and posters, "NAVY Seal" goods and services -- and identifying the Navy unit as an organization, which “develops and executes military missions involving special operations strategy, doctrine and tactics."

LOS ANGELES, California (X17online) -
The Disney classic, The Lion King, is set to return to the big screen in 3D this year on September 16.

Disney is revamping the all-time favorite into digital 3D.

The animated film was originally released back in 1994, which was a defining moment for Disney, welcoming an animation renaissance.

The Lion King is the highest -grossing hand drawn animation movie of all time, making $783.8 million at the box office worldwide.

LOS ANGELES, California (X17online) - Disney has resumed development of Johnny Depp’s Lone Ranger, according to Deadline.

The movie studio had halted development of the flick in August over budget concerns, but has since cut enough costs to put it back on track.

Disney shrunk the Lone Ranger budget from $250 million to $215 million by trimming production costs and reworking its deals with producer Jerry Bruckheimer, director Gore Verbinski, and the film’s main star, Johnny Depp.

Production will likely begin in early 2012, though Disney has yet to indicate whether or not its budgeting woes will affect Lone Ranger’s Dec. 21, 2012 release date.

LOS ANGELES, California (X17online) - Following the successful relaunch of The Lion King in 3D, Disney has announced plans to release 3D versions of Beauty and the Beast, Finding Nemo, Monsters, Inc. and The Little Mermaid in theaters.

The Lion King 3D’s critical box office success - raking in more than $80 million 15 years after its initial release – has created a strong business case for the 3D relaunch of classic Disney films.

“Great stories and great characters are timeless, and at Disney we’re fortunate to have a treasure trove of both,” said Disney president Alan Bergman. “We’re thrilled to give audiences of all ages the chance to experience these beloved tales in an exciting new way with 3D – and in the case of younger generations, for the first time on the big screen.”

Beauty and the Beast and Finding Nemo are scheduled for 2012 releases, and Monsters, Inc. and The Little Mermaid will hit theaters a year later.

LOS ANGELES, California (X17online) - Media powerhouses Disney and Youtube will collaborate in launching a new video series.

Disney Interactive Media and Google-owned YouTube will invest a combined $10 to $15 million on the original series, which will be viewable on both Youtube and Disney.com.

“It’s imperative to go where our audience is” and to “bring Disney’s legacy of storytelling to a new generation of families and Disney enthusiasts on the platforms they prefer,” said co-president of Disney Interactive, James A. Pitaro.

The partnership - which the companies are expected to announce today, Nov. 7 – will begin early next year.