Imagine Entertainment and Animal Logic Entertainment have teamed up on a joint venture that will finance a slate of six full-length animated and hybrid animation movies to be produced over the next five years, the companies announced Monday.
The companies are raising equity financing to cover about half of the production costs, with budgets targeted between $75 and $85 million. Both firms are experienced in the family film space, with Imagine behind projects like “How the Grinch Stole Christmas” and “Curious George,” while Animal Logic’s notable films have included Best Animated Feature Oscar winner “Happy Feet” and the “Lego Movie” franchise.
“The animation space consistently outperforms other genres and we wanted to enter into that space by partnering with a company that is at the forefront of creative and technical achievement,” Imagine Chairman Brian Grazer said in a statement. “Animal Logic is one of the industry’s most highly regarded digital production studios and I am excited for what we can create by combining our resources and talent in storytelling.”
“Animal Logic’s work in the animation space is ground breaking. Our partnership expands our mutually shared vision to create visually stunning, inventive, and heart-warming stories that appeal to families,” added Imagine Chairman Ron Howard. “Their technical capabilities for animation are impressive and distinctive, and the possibilities for new material are limitless in this highly coveted space.”
“We could not have hoped for a more perfect collaboration than with Ron, Brian and the Imagine team to bring a slate of engaging and inventive stories to family audiences around the world,” Animal Logic CEO Zareh Nalbandian said in the statement. “We are inspired by the potential of our combined slate of projects and the strong relationships and material we will bring to our partnership.”
Imagine is represented by CAA, while Animal Logic is repped by CAA and Loeb & Loeb.