Bill Block is out as CEO at Miramax as part of a “strategic shift” for the studio, TheWrap has learned.
Block had been with the company since 2017 and had shepherded it through a successful few years, which saw the brand once again rise to prominence.
According to an insider with knowledge of the situation, the market has fundamentally changed and there were those who believe that Miramax should focus on developing projects from existing IP. A strategic shift was desired and a change in leadership was required, according to the insider.
Block was installed in 2017, following a bidding war for the Miramax assets conducted after sexual assault allegations against Miramax founder Harvey Weinstein (now convicted of the crimes) surfaced. In 2019, Paramount Global announced a 49% stake in the company, valued at around $375 million.
During Block’s tenure, Miramax successfully relaunched the “Scream” franchise and the co-production of the recent “Halloween” trilogy (with Universal), as well as originals like Guy Ritchie’s “The Gentleman” (which is serving as the basis for an upcoming Netflix series) and “Operation Fortune: Ruse de Guerre.”
Miramax was founded by Weinstein in 1979. In 1993, the company was sold to Disney, which began a nearly unprecedented run of critical and commercial darlings, including everything from “Pulp Fiction” to “Scream” (released under their Dimension label) to “Shakespeare in Love” and “Gangs of New York.” It was sold by Disney in 2010.
Block is perhaps best known as the founder and CEO of production company QED. Previously, Block was the president of Artisan Entertainment. He also headed West Coast operations for ICM.
Deadline first reported the news.