Imagine Entertainment
 |
|
| Private partnership | |
| Industry | Film |
| Genre | Film and Television Production company |
| Predecessor | Imagine Films Entertainment |
| Founded | 1986 |
| Founder |
Brian Grazer Ron Howard |
| Headquarters | Beverly Hills, California, United States |
|
Key people
|
Brian Grazer (Chairman) Ron Howard (Chairman) Michael Rosenberg (Co-Chairman) Erica Huggins (President) |
| Products | Feature films, TV series |
| Owner | Brian Grazer Ron Howard |
| Website | imagine-entertainment |
Imagine Entertainment, formerly Imagine Films Entertainment, is an American film and television production company founded in 1986 by director Ron Howard and producer Brian Grazer.
Brian Grazer and Ron Howard met in 1982 on Night Shift with Howard directing and Grazer co-producing. Then followed it up with working on 1984's Splash.
Early on the company sealed a production and distribution deal with Universal Pictures expiring in November 1992. Universal's deal was to fund 50% of 30 films. The company had an IPO in 1986 at $8 for a package of one share and one warrant. Shares rose to $19.25 before falling in the stock market crash in 1987 to $2.25. A pay television broadcast agreement was made with Showtime.
By May 1992, 48% of the stock was public traded and worth $9.375. The duo agreed to a new six deal with Universal while concurrently offering $9 a share to buy the company's public outstanding share to start a new company with its assets. If not they planned to leave the company at their contract expiration in November to start the new company anyway. Universal was providing the cash for the buy out for an equity stake in the new company.
In 2000, the partnership partnered for TV series development with 20th Century Fox, an agreement expiring at the end of 2016. In 2011, the company had three weak box office performers with The Dilemma, Cowboys & Aliens and Tower Heist. Because of their weak financial pact renewal with Universal in January 2012, Imagine laid off 5 employees including production executive Jeremy Steckler. This also moves Imagine from exclusive to a first look deal. By 2013, Imagine was considering other funding methods for the company's films including crowdfunding for a Friday Night Lights movie.
In November 2013, Michael Rosenberg was promoted to Co-chairman followed in December 2013 with Erica Huggins being promoted to his previous position of president. Industry insiders indicated in late January 2016 that a deal with Raine Group was in the works that would have Raine become a partner of the production company while contributing $100 million.
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Wikipedia