With IM Global deal, Reliance expands its Hollywood footprint (THR, LAT)

By Nancy Tartaglione

Reliance Big Entertainment has taken a majority stake in Stuart Ford's international sales firm IM Global. Earlier this year, Reliance and IM Global struck a deal under which IM Global handles Reliance's Hindi film output internationally. This new backing will up IM Global's capacity for indie film financing and enables its expansion into sales and financing for top-tier, non-English language films along with selective rights acquisitions for India and other Asian markets, The Hollywood Reporter notes.

Terms of the deal were not disclosed, but Ford's holding company, Ancramdale, will retain what a significant equity position in the business.

IM Global has carved out a strong niche handling sales of a diverse number of titles, including "Paranormal Activity" and Tom Ford's "A Single Man" among its recent sales, notes The Los Angeles Times.

The IM Global deal expands Reliance's growing Hollywood presence. It has already partnered with Steven Spielberg and Stacey Snider at DreamWorks and has development deals with Nicolas Cage, Jim Carrey, George Clooney, Chris Columbus, Tom Hanks, Jay Roach, Brett Ratner, Julia Roberts and Brian Grazer and Ron Howard's Imagine.