Friday, June 18, 2004

AP - Business: Miramax weighing budget cuts, layoffs

Seattle Post-Intelligencer: AP - Business: Miramax weighing budget cuts, layoffs: "LOS ANGELES -- Miramax Films is considering a number of cost-cutting measures, including layoffs, as it nears the end of its fiscal year, a source familiar with the studio's plans said Friday.
Miramax is owned by The Walt Disney Co. and operates on a fixed budget of about $700 million a year to make and market films.
With four months left to go in its fiscal year, much of that budget has already been spent on expensive projects such as Martin Scorsese's Howard Hughes film 'The Aviator,' the Johnny Depp film 'Finding Neverland' and two films starring Jennifer Lopez, according to the source, who spoke to The Associated Press on condition of anonymity."

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