Disney cuts 50 Miramax jobs

"This restructuring maximizes operating efficiencies and provides significant cost savings, while allowing Miramax to focus on its greatest strength: the creation of high-quality entertainment," the entertainment industry trade newspaper quoted Disney Studios President Alan Bergman as saying.

As part of the new plan, Miramax's marketing, distribution, operations and administrative support functions reportedly will be absorbed by the parent studio in Burbank, Calif., while Miramax President Daniel Battsek will continue to supervise development, production, and business and legal affairs out of the division's New York offices.

Miramax is now expected to release three films a year instead of six or eight, Variety said.

Copyright 2009 by United Press International.