Business

Dust off the reels

Newly independent Miramax is in talks with the Weinstein Co. about a partnership to handle some of their jointly-owned assets.

According to a source, the Weinstein Co. holds about 50 percent of the sequel rights to movies in the Miramax catalog, recently acquired by Filmyard Holdings.

The two firms are talking about how the Weinstein Co., run by brothers Harvey and Bob Weinstein, who also founded Miramax, might partner or be compensated for the use of those rights.

Yesterday, Miramax named Michael Lang, a former News Corp. and Disney executive, as its new chief executive. Lang is tasked with boosting revenue from Miramax’s existing library of 700-plus movies, including “Pulp Fiction” and “Clerks.”

Lang told The Post yesterday he envisions striking a slew of digital deals to exploit the Miramax catalog.

“I believe digital is going to be significant,” he said. “In five to seven years it will be bigger than the physical landscape.”

Miramax, which is in talks with Google, Netflix and other players about digital rights to its catalog, expects a string of deals in the next six months, according to Lang.

He believes that traditional media companies have been too cautious about digital distribution, saying, “I think the only way to do it is to start trying things.”

Lang said Miramax has an advantage in that it is much less encumbered by rights that are already tied up in long-term deals than other studios.

Earlier this month, Miramax was sold for $663 million to Filmyard, backed by an investor group that includes Tom Barrack’s Colony Capital and construction magnate Ron Tutor.

The Weinsteins, along with their financial partner, supermarket magnate Ron Burkle, lost a battle to win back their former studio when their bid came in around $100 million less than Filmyard’s.

Lang, who helped establish Web video site Hulu while working for Fox, has already set up a new Web site for the company at Miramax.com and has posted his own blog. (News Corp. owns Fox and The Post.)

With Lang at the helm, Miramax is looking to bring in a home-entertainment partner to exploit the library and will start to staff internally in that area.

Miramax, which still holds rights to TV properties and scripts, may also look to the theater world to partner for stage plays. The sale of rights to several global pay-TV partners is also under discussion.

catkinson@nypost.com