Imagine Entertainment announced Monday that it has received a significant investment from global merchant bank The Raine Group.
“The ways in which content is created and consumed are transforming faster than ever before, expanding in directions that hadn’t been conceived even a few years ago,” Grazer said in a statement. “The opportunity to extend Imagine’s reach across this expanding landscape is a driving force for us. Through this partnership, we are incredibly excited to roll out a slate of new projects that capture the imagination and visions we share on a global scale.”
Imagine plans to continue to expand into branded content and location-based entertainment and digital formats. It also plans to look at potential acquisitions.
“We are proud of the legacy we have built with Imagine and are more excited than ever to build on it by tapping into our creative, experimental and entrepreneurial DNA to ignite new passion projects,” Howard said. “This investment and partnership unlocks new doors for us as creators and for the company and its expansionary endeavors. It allows us to build upon our creative relationships to broaden our reach into all narrative formats and platforms. We appreciate Raine’s support and welcome them to the Imagine family.”
Past Raine investments include Vice Media, Matt Stone and Trey Parker‘s Important Studios, action sports company Nitro Circus and fantasy sports operator Draft Kings. Additional strategic co-investors brought in by Raine include China Media Capital, the Antenna Group and WPP.
Skip Brittenham and Cliff Gilbert-Lurie of Ziffren Brittenham LLP represented Imagine Entertainment in the investment deal while Neil Whorisky of Cleary Gottlieb acted as legal counsel to Raine.
Imagine’s Legal Counsel for the deal was Jeffrey B. Samuels and Ariel J. Deckelbaum from Paul, Weiss, Rifkind, Wharton & Garrison LLP.