Imagine Sets $100 Million TV Production Pact with Hong Kong’s TVB

Imagine, the production company founded and led by Brian Grazer and Ron Howard, has entered into a TV co-financing venture with TVB Venture, a wholly owned subsidiary of Hong Kong-based Television Broadcasts Limited (TVB).

Imagine and TVB will each own 50 percent of the venture. Under the terms of the agreement, TVB Venture has invested $100 million, which will be used for the development and production of television projects. TVB Venture will have broadcast and distribution rights in China (including Hong Kong and Macao) and Taiwan.

Grazer commented: “TVB is a proven leader in the television industry with broad capabilities in broadcasting, production, and distribution. We are honored to have the opportunity to partner with them and are excited about the opportunities this agreement provides for Imagine to invest in our own production and development while also retaining the rights to our IP.”

Howard commented, “Together with TVB, we look forward to bringing more viewers around the world the unique, groundbreaking programs and content we feel so passionately about creating.”

Francie Calfo, the president of Imagine Television, said: “I’m incredibly excited by this partnership with TVB, which gives us a wide-ranging, global opportunity to expand the Imagine Television brand. This relationship provides us with a deep well of resources to do what we love most—to find, nurture and platform unique and gifted voices in television.”

Charlie Corwin, the CEO of Imagine Entertainment, noted: “This is a groundbreaking partnership and TVB is the perfect international partner. Together we are creating the first-of-its-kind independent fund to finance a slate of television in the U.S. and around the world.”

Dr. Charles Chan, the chairman of TVB, stated, “We could not have hoped for a more perfect collaboration than with Imagine Entertainment, a company that is at the forefront of TV programming. It will provide us with a new opportunity for cooperation with a leading film and TV production company in the U.S. With our strong distribution network, we can help bring TV programs produced under the joint venture to the vast markets in Greater China.”

Ruigang Li, the chairman of CMC Holdings and vice chairman of TVB, commented, “I’m pleased that we are able to create this exciting opportunity among the close partners we work with. I have known Brian and Ron, whose creative talent is unrivaled in the industry, for years. This partnership would bring the best creative resource and industry expertise to TVB, which will be of significance to TVB’s growth strategy in the years to come. In addition, TVB’s distribution capability will improve the presence of premium international content in regional markets.”