Imagine Entertainment Expands Justin Wilkes’ Role as Company Shops for New Investors (EXCLUSIVE)

variety.com:

Cynthia Littleton Business EditorImagine Entertainment has expanded the purview of Imagine Documentaries chief Justin Wilkes to overseeing new business development as chief strategy officer for the independent content powerhouse.The move for Wilkes comes as Imagine Entertainment is actively seeking an influx of capital to fund its ambitious growth plans.

The company headed by Ron Howard and Brian Grazer since 1986 is looking to bring in a new financial investor that will allow Imagine to continue operating status quo with its current management team.At present, Imagine is in talks with U.K.-based Centricus Asset Management about a sale that would value the company at around $700 million.

Imagine executives declined to comment on the status of the talks, and a source close the situation cautioned that other discussions are under way and there’s no certainty of a deal coming together with Centricus.

In early 2016, Raine Group became the majority owner of Imagine with an estimated $100 million investment. Wilkes’ expanded role calls for him to oversee all documentary-related content for Imagine and its Jigsaw Productions subsidiary, as well as for Imagine’s branded-content, audio and live event divisions.