Mubasher: American multinational media conglomerate ViacomCBS has unveiled plans to acquire a 49% stake in Qatar’s film studio Miramax in consideration of $375 million, Reuters reported on Friday.

The deal includes an upfront cash payment of about $150 million, in addition to $45 million investment commitment by ViacomCBS over the next five years.

ViacomCBS’ unit Paramount Pictures inked long-term distribution agreement with Miramax.

Founded in 1979, Miramax owns the rights to hundreds of Hollywood films.