Miramax Names Tom Barrack Chairman
Miramax announced today that Colony Capital head Tom Barrack has been named chairman, effective immediately.
Barrack replaces Richard Nanula, who has severed his ties with the movie company and international investment bank amid a growing sex scandal, The Hollywood Reporter first reported on Sunday.
The scandal began when pictures were published on the website The Dirty (and later elsewhere) of a man believed to be Nanula playing the male lead in a porn movie with adult-film actress Samantha Saint.
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Nanula's departure left a vacancy at chairman for the company, which still doesn't have a permanent CEO since Mike Lang left in March 2012. CFO Steve Schoch has been serving as interim CEO since Lang's departure.
Nonetheless, the company has hired veteran executives to run the divisions charged with continuing to monetize the Miramax film library, which was acquired in 2010 from Disney.
Barrack and Colony Capital, along with Ronald Tutor and the Qatar Investment Authority, purchased Miramax for $663 million.