WEINSTEINS' Departure Could Cost Disney

Bob and Harvey Weinstein are exiting their contract with the Walt Disney Co. and Miramax Films on Oct. 1 to launch another media empire, having just leased 27,000 square feet of office space at 345 Hudson Street in Tribeca. Meanwhile back at Disney..............the costs of marketing and distributing seven Miramax films in Disney's fourth quarter, which ends on Sept. 30, will have a significant impact on the company's earnings in the quarter, Wall Street analysts warned clients Tuesday. Disney is speeding up the release of the films that were produced under the aegis of Bob and Harvey Weinstein, who are leaving Miramax after 12 years at the end of September. Three films, Secuestro Express, The Warrior and The Great Raid, already released during the current quarter, have performed poorly. The latter film, which reportedly cost Disney $20 million to market, took in only $3.4 million in its debut last weekend. In his message to clients, CIBC World Markets analyst Michael Gallant referred to the additional costs to Disney of "blowing out the remaining Miramax films in development."