London-based funding agency Centricus has acquired a majority stake in SK Global Entertainment, the impartial manufacturing and finance company recognized behind movie Crazy Rich Asians.
Financial phrases weren’t disclosed. A supply stated the entire consideration was within the low-to-mid 9 figures.
Charlie Corwin will turn out to be CEO and John Penotti chief inventive officer specializing in the SK Global’s movie and TV slates. (They had been co-CEOS). SK Global founder Sidney Kimmel will stay chairman, Matt Aragachi will proceed as CFO
Centricus will present further capital to speed up SK Global’s development technique via IP possession and financing strategic acquisitions. Earlier this year, SK Global acquired Critical Content, a producer of unscripted tv collection together with MTV’s Catfish and Netflix’s Get Organized with The Home Edit.
“With the rapid expansion of platforms and theatrical releases around the world, this is a unique time of great opportunity for independence at scale. We look forward to working with the Centricus team, who share our vision for a truly global independent studio,” Corwin stated.
“Our strategy has been to invest in the rights to culturally relevant stories such as Kevin Kwan’s Sex and Vanity, Thai Cave Rescue, and Crazy Rich Asians, and then partner with the best talent to bring these stories to a global audience. This new ownership will drive our continued investment in franchise IP, A-list talent, and strategic acquisitions in the US and around the world,” stated Penotti.
They thanked Kimmel for his “decades long vision, support, and trust.”
“We are excited to have acquired a majority stake in SK Global, a leader in independent content for global audiences,” added
Josh Purvis, Partner and COO of Centricus stated the deal marks “an important investment in the media sector for Centricus. With strong leadership and strategy, we are confident in the ability to deliver on the vision to tell cultural stories around the world. We intend to continue investing in that vision through the financing of both content and acquisitions in this fast-growing space.”
Kimmel stated the deal “will allow SK Global to achieve new heights under the leadership of Charlie and John. With Centricus’ support, I know SK Global can develop global franchises and content that will have global resonance. I could not be more proud of the company we’ve built, and I am confident SK Global will prosper under the stewardship of incredible leaders.”
SK Global’s movie and TV slate for 2022 and past contains the latest September 22 launch of their restricted collection Thai Cave Rescue, Season 2 of Delhi Crime on Netflix (presently #4 on Netflix, worldwide), the sequels and spin-offs of their hit Warner Bros’ movie Crazy Rich Asians, the premium TV adaptation of their traditional movie 9 ½ Weeks, the TV adaptation (with FOX) of Hell or Highwater, and the worldwide spy collection Nameless starring Henry Golding primarily based on the Dean Koontz guide collection, amongst many others. SK Global’s unscripted company, Critical Content, will proceed its prodigious output, which already enjoys having many on-air collection together with over 200 episodes of MTV’s Catfish, Season 16 of The Great Food Truck Race, Netflix’s Get Organized with The Home Edit with Reese Witherspoon’s Hello Sunshine, E!’s Celebrity Game Face starring Kevin Hart, and the upcoming Netflix exhibits Instant Dream House and Buy My House.