Following months of rumors about its fate, The Wrap is reporting that Walt Disney is trimming the number of films its specialty division, Miramax, will release annually in addition to consolidating part of its operations.
Daniel Battsek will continue as president of Miramax Films, overseeing its operations from New York. While the division release six films last year, it's not currently known what the new target number will be. Founded by Harvey and Bob Weinstein, Disney bought Miramax back in the '90s. Recent Miramax releases include "Doubt," which received an Oscar nomination as well as "Adventureland," "Cheri" and "Extract."
Update: Thompson on Hollywood is reporting Miramax will reduce its releases to three titles per year. Additionally, the specialty division will cut its staff down to 25 from the current 75.