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PARAMOUNT PICTURES SIGNS DISTRIBUTION AGREEMENT WITH MIRAMAX FILMS

 PARAMOUNT PICTURES SIGNS DISTRIBUTION AGREEMENT WITH MIRAMAX FILMS
 HOLLYWOOD, Feb. 5 /PRNewswire/ -- Paramount Pictures and Miramax Films have signed a multi-year agreement under which Paramount will distribute a number of Miramax films to home video, cable and broadcast markets. The announcement was made today by Barry London, president of Paramount's Motion Picture Group/Worldwide Distribution, and Robert and Harvey Weinstein, co-chairmen of Miramax Films.
 The arrangement, among the most innovative in the entertainment industry, will link Paramount, a worldwide leader in the production and distribution of film, video and television product, with Miramax, one of the most successful and respected independent film companies.
 The deal creates a long-term relationship between the two companies that also envisions theatrical distribution by Paramount of some Miramax films. Financial terms of the agreement were not disclosed.
 "Miramax is known for releasing high-quality, prestigious entertainment and has become highly successful in a very difficult marketplace for independent film companies," London said. "Together, we will explore many synergistic opportunities in the years ahead."
 Robert Weinstein said: "We are thrilled to be linking up with Paramount. We have known Barry London for 10 years, and this deal gives us access to the best distribution operation in the entertainment business. We look forward to a creative and profitable relationship."
 The agreement initially encompasses distribution by Paramount of 17 Miramax titles to the home video market and 18 Miramax titles to cable and broadcast markets. These include the acclaimed Miramax releases "High Heels" by Pedro Almodovar, "The Double Life of Veronique" and its newest film, "Hear My Song," which has opened to overwhelming critical praise. Also included are the upcoming Miramax releases "Spotswood" with Anthony Hopkins and "Enchanted April."
 As part of the deal, Paramount Home Video will distribute titles releases by Miramax's recently established home video label, Miramax Home Video.
 "Paramount's home video operation is known for its expertise and innovation in marketing a wide range of theatrical and non-theatrical titles," said Harvey Weinstein. "This agreement gives us access to that great operation while also fulfilling our dream of creating our own home video label."
 Founded in 1980, Miramax Films is based at the TriBeCa Film Center in New York. Among its celebrated releases have been "sex, lies and videotape," "My Left Foot," "Cinema Paradiso" and "The Grifters."
 Paramount Pictures is part of the entertainment operations of Paramount Communications Inc.
 -0- 2/5/92
 /CONTACT: Harry Anderson, 213-956-5845, or James Arnold, 213-956-5767, both of Paramount Pictures/ CO: Paramount Pictures; Miramax Films ST: California IN: ENT SU:


DM-KJ -- LA026 -- 7413 02/05/92 17:45 EST
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Publication:PR Newswire
Date:Feb 5, 1992
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