Colony’s Tom Barrack Takes Over Miramax After Nanula Resigns

Colony Capital LLC Chairman Tom Barrack took over as chairman of his company’s Miramax film unit following the resignation of Richard Nanula.

Nanula has also resigned from Colony. The changes are effective immediately, Santa Monica, California-based Colony Capital said today in an e-mailed statement.

Barrack is taking charge after the Los Angeles Times and Deadline.com reported that the websites TheDirty.com and GenesisOnline.com had posted images of Nanula having sex with an adult-film star. Colony announced last month that Nanula had taken a leave of absence for personal reasons.

Nanula didn’t respond today to telephone and e-mail messages and the company’s statement didn’t give a reason for his resignation.

Colony Capital bought Miramax from Walt Disney Co. in 2010 for more than $660 million. Miramax, which has focused on licensing films from its 700-picture library to Web-based distributors including Netflix Inc. (NFLX), said in March that it was working with Martin Scorsese to create a television series inspired by the director’s “Gangs of New York” movie.

To contact the reporter on this story: Devin Banerjee in New York at dbanerjee2@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.