Miramax chief bows out
Miramax Chief Mike Lang is stepping down, just 15 months after he was appointed to head up the former Disney studio now owned by private-equity investors.
Chief Financial Officer Steve Schoch will serve as interim CEO until a permanent head is named. Lang has agreed to remain a consultant to Miramax while the company searches for his replacement.
Lang, a former News Corp. and Disney executive, was tasked with boosting revenue from Miramax’s library of 700-plus movies, including “Pulp Fiction” and “Shakespeare in Love.” News Corp. owns The Post.
After he was named CEO in December 2010, Lang said he envisioned striking a slew of digital deals to exploit the Miramax catalog. Indeed, Lang was reportedly instrumental in inking distribution deals with Netflix and Hulu.
He also increased the staff to roughly 70 employees and cut a deal with Miramax’s founders, Bob and Harvey Weinstein, to develop sequels with The Weinstein Co.
Lang’s departure, however, could indicate a change in course for the company, with speculation that it could be trying to become a full-fledged studio or seeking a sale.
Investors, including Colony Capital, construction magnate Ron Tutor and the investment arm of Qatar, had already withdrawn the majority of their equity from Miramax in a refinancing last year that added more than $500 million in debt.
In 2010, Miramax was sold for $663 million to Filmyard Holdings, backed by the investor group that includes Tom Barrack’s Colony Capital.

