Reliance Big acquires majority stake in IM Global
The Indian giant has confirmed it has acquired an undisclosed majority shareholding of Stuart Ford’s LA and London-based sales and financing powerhouse heading into Cannes.
The parties had been courting each other for some time and Ford and his team handled sales on a number of Reliance’s hindi titles at the EFM in Berlin earlier this year.
Ford’s holding company Ancramdale will retain a significant equity position in the business, and the 40-year-old British founder and CEO of IM Global will continue in his role under a multi-year deal.
The latest development has allowed Ford to expand the company, which as recently reported here included a trio of hires led by the arrival of former Lakeshore sales chief Jonathan Deckter as president of sales and distribution.
Ford also brought in former QED International sales executive Tatyana Joffe to head up the Octane genre label as senior vice-president of international sales, and former T&C Pictures International chief David Jourdan, who will oversee the new world cinema division as senior vice-president of international sales.
The business expansion allows IM Global to focus on financing of top tier English language fare and make selective rights acquisitions for India and other Asian markets.
“After a phenomenal first three years, the company is ready to move onto the next stage of its strategic growth,” Ford said. “I simply could not wish for a more dynamic partner to help nurture that progression. We’re also looking forward to helping Reliance extend its presence in Hollywood and the worldwide film community.”