In its biggest film industry investment since becoming a partner in DreamWorks, India-based Reliance Big Entertainment has acquired a majority stake in IM Global, the foreign sales company founded and run by Stuart Ford. No specific details on the size of the stake or what Reliance paid, but the deal comes at a time of expansion for IM Global. CAA film finance agent Brian Kavanaugh-Jones gave notice last month that he would leave to run a new company to produce and finance mainstream films, details on which are likely to be unveiled during Cannes. Ford also hired away Lakeshore International’s sales chief Jonathan L. Deckter to be IM Global’s new president of Sales and Distribution.
The relationship between Reliance Big and IM Global got going in February, when IM Global began handling Reliance’s Hindi film output internationally.