Harvey Weinstein clashed with Disney over Fahrenheit 9/11

The US firm has ended its 12-year partnership with the Weinsteins, whose Miramax studios produced Oscar-winning films such as The Hours and Chicago.

The move came after Disney refused to distribute Michael Moore's documentary Fahrenheit 9/11, funded by Miramax.

Disney head Mr Eisner will be replaced by Bob Iger, after 21 years.

Independent films

Brothers Harvey and Bob Weinstein reinvigorated the independent film industry by distributing and producing low-budget movies that had been overlooked by Hollywood.

Their firm Miramax has supported movies that became critical and box office successes, including Sex, Lies and Videotape, The Crying Game, The Piano, Pulp Fiction and The English Patient and Cold Mountain.

Such movies were previously considered a risk because they often dealt with "fringe" topics - subjects that were thought to be too controversial for mainstream American audiences.

Miramax backed Oscar-winning films such as Chicago

The success of Miramax encouraged major studios to set up their own low-budget film divisions, and Disney gained a controlling interest in Miramax in a $60m (�34m) deal in 1994.

The pair are stepping down as co-chief executives of Miramax after years of reported tension with Disney head Mr Eisner.

Last year he clashed with Harvey Weinstein over Fahrenheit 9/11, after Disney refused to release Michael Moore's documentary, which was critical of US President Bush.

The Weinsteins will continue to make films for Disney through their new firm The Weinstein Co, however, including forthcoming thriller Derailed - starring Clive Owen - and The Matador starring Pierce Brosnan.

Television hits

In the 21 years since Mr Eisner joined Disney, the company has gone from $1.5bn (�852m) in annual revenues to nearly $31bn (�17bn) today.

Michael Eisner has presided over a boost in Disney's revenue

He helped reinvigorate Disney's film animation group, creating hit movies such as The Lion King.

But in 1996 Disney was sued for bonus money by ex-Disney president Michael Ovitz, settling for a reported $250m (�142m).

Disney's theme parks suffered from a tourism slump after the 11 September attacks on the World Trade Center and Pentagon in 2001, although they have since rebounded.

Meanwhile the Disney-owned TV network ABC has benefited from the success of hit comedy Desperate Housewives and drama Lost.