A catastrophic mistake that ultimately led to the popular Peter Jackson trilogy
Disney She is a big dominator of Hollywood at this time. buying of Pixar, Marvel and Star Wars It was decisive in getting that position, but at the time I could also own the ‘Lord of the Rings’ franchise, and he refused to do that in what was probably the worst business decision in its entire history.
We have to go back to the mid-90s, a time when peter jackson Was preparing an adaptation of ‘The Lord of the Rings’ for miramax led the company harvey weinstein Which Walt Disney had achieved shortly before and yet he enjoyed considerable freedom of movement. The initial idea was to split it into two films, but it didn’t take long for problems to arise.
To demand by threat
the point is that miramax At that time they were a little short of money and could not afford to invest millions of dollars. his solution was Ask Disney for Financial Aid to be able to pursue it further, but the studio declined to provide additional financing.
The truth is that the company had placed the order some time ago to reduce costs, so Michael Eisner Disney’s CEO at the time said, no. Of course, Eisner himself would later confirm that he rejected the plan only because Weinstein didn’t even give him the option. Assess the feasibility of the proposal yourself,
The project remained in the hands of Miramax for some time, eventually becoming a Disney property, but Then everything became complicated because we could not find any other partner to solve the financial problems., The pressure to squeeze everything into one film and threats to replace Peter Jackson with Quentin Tarantino brought everything to a halt.
It was impossible to reach any kind of agreement and due to leaks of interest in the script, New Line was eventually convinced to take over the project by paying a fee. A small compensation of $10 million to Miramax for expenses Until then, and a small portion of the profits from both the trilogy and a possible adaptation of ‘The Hobbit’, which will be made years later under the direction of Peter Jackson.
Yes actually, weinstein brothers He ensured that half the profit would go exclusively to him. Furthermore, by the time ‘The Hobbit: An Unexpected Journey’ was released, Disney had already sold Miramax, so they were left without seeing a single dollar there.