Before this gets misreported and twisted into something it’s not, let me quickly explain Variety‘s report that ViacomCBS is close to a deal to buy a minority stake in Miramax.
I know the first reaction is to perk up an eyebrow and exclaim, “Scream!” but let’s slow down a second. The article explains that this is a library play for ViacomCBS, who is looking to have the right to distribute Miramax’s film library of about 700 titles worldwide through Paramount Pictures and CBS’ sales and marketing units.
As the site adds, ViacomCBS wants the library and the IP assets to help fuel its in-house streaming platforms such as Pluto TV and CBS All Access, but it also wants the tonnage of the film library to distribute around the world through Paramount’s existing infrastructure.
In short, they’re doing what’s necessary to compete with the Netflix’s of the world (and my gut tells me that they’re making a bigger play to have Netflix eventually acquire them).
The deal also calls for Paramount and ViacomCBS to provide ongoing resources to Miramax to help develop new projects and intellectual property, as well as reboots of library assets. It’s unclear what this means exactly, but it sounds as if the deal not only requires ViacomCBS to stay out of the way in regards to future projects, but that they’ll use their massive resources to help produce and distribute them as well.
How does this relate to Wes Craven’s Scream franchise? Well, it’s unclear if Miramax has any rights to make sequels/remakes, but Lantern and Spyglass are already currently developing a new film. If Miramax is in the mix, this new deal could help with distribution tremendously, something that made it immensely difficult for Dimension Films to get Scream 4 off the ground.
For now, let’s take the wait-and-see approach. Ghostface is going to return with or without this new deal, but it would be interesting to see if Paramount eventually gets in the mix.
Watch for updates next year.
