Internationalmedia (IM) co-founders Guy East and Nigel Sinclair have stepped down from the board of directors and entered into a three-year producing deal with the company. At the same time, Graham King, President and CEO of the IM Group subsidiary IEG, will join the executive board.
The move comes just two weeks after IM announced that it planned to double revenues and increase profits this year (Screendaily, April 26) and is also in line with plans which were part of the original, but subsequently abandoned, merger with Spyglass Entertainment.
East and Sinclair's new as yet unnamed production entity will oversee existing features for IM, including Me Again (starring Bruce Willis), Fred Cuny (with Harrison Ford lined up to star), and Russell Crowe's directorial debut The Long Green Shore as well as a number of other projects in IM's development slate.
In addition, Sinclair will pursue music-based projects, producing, among others, Masked And Anonymous starring Bob Dylan. East will also continue to seek out European-based movies such as Sleepwalker, which was recently set up with Mark Johnson's Gran Via Productions, and a remake of Das Experiment which is being developed with Barry Levinson and Paula Weinstein's Baltimore Spring Creek.