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Imagine Entertainment
Imagine Entertainment, formerly Imagine Films Entertainment, also known simply as Imagine (stylized in all caps as IMAGINE), is an American film and television production company founded in November 1985 by producer Brian Grazer and director Ron Howard.
Brian Grazer and Ron Howard met in 1982 on Night Shift, with Howard directing and Grazer co-producing. They followed it up by working on 1984's Splash.
The company was originally founded in November 1985, following the success of the motion picture Splash. It was originated from a merger of two production companies, Ron Howard's Major H Productions and Brian Grazer's self-titled production company Brian Grazer Productions. The company went public the following year. At first, the company set a deal with Tri-Star Pictures to produce feature films and television shows. Imagine granted Tri-Star the right of first refusal to syndicate their off-network shows produced by Imagine. Its offering was sold to Allen & Co. for 1,667,000 units for common stock and warrant it to purchase additional one-third of its stock. The net proceeds were used for development and production of theatrical films, television series, mini-series and made for television movies, although "the company does not presently intend to develop game shows or daytime soap operas." Imagine however has its prospectus having negotiations with Paramount Television for a commitment with ABC for a half-hour pilot and five episodes based on the comedy film Gung Ho.
Later the same year, Imagine had a five-year deal with Showtime/The Movie Channel, Inc. and it was able to develop projects for the channels Showtime and The Movie Channel. The agreement would kick-off with 1989 pay television availabilities and include pay-per view exhibition rights to all Imagine-produced films and about 30 motion pictures and "an unspecified number of original products" are also covered by the agreement. "There was the option of developing "long-form dramas" or series as part of the original material to be developed and aired exclusively on Showtime, adding that it could also acquire the syndication rights to these films and original products.
In April 1987, producers Philip and Mary Ann Hobel had inked a pact with Imagine Films Entertainment to develop and produce theatrical fare for the company through Hobel Productions, and expected to serve as the eyes and ears of Imagine of New York, and will be backed by a development fund for the purchase of books, plays, scripts and ideas to be developed as film projects, and plans to do both comedy and drama projects with a concentration on contempo themes and issues through a first-look agreement.
On July 29, 1987, Tri-Star Pictures and Imagine Films Entertainment announced the termination of obligations by Imagine to offer Tri-Star distribution rights for all of its television programming and feature films. Imagine, which received more than $1.7 million from Tri-Star, made a $1.3 million payment to Tri-Star, the companies said and advances from Tri-Star were eliminated. The companies said they "intend[ed] to work together on a project-by-project basis" and that projects already in development were not affected. Imagine said the modified agreement "provide[d] it with the flexibility to pursue certain financing and distribution opportunities which were not anticipated when the companies entered the original agreement."
In November 1987, Imagine Films Entertainment announced its plans to move its financial and administrative activities from New York to Los Angeles, and Neil Braun, who was president and chief-executive officer of the company would not be part of the move, and instead would leave the company and is expected to reveal of his plans shortly and his personal commitments would keep him from making the shift, but he called the consolidation "the right decision for the company" while expressing his disappointment at not being able to stay on.
On December 1, 1987, the company sealed a production and distribution deal with Universal Pictures via a "long-term multiple picture agreement" that they distributed Imagine's films for three to five films a year and the agreement "contemplates the possibility" that Universal acquired a 20% share in Imagine and it ran through November 1992 for financing 50% of 30 films. Imagine had an IPO in 1986 at $8 for a package of one share and one warrant. Shares rose to $19.25 before falling in the stock market crash in 1987 to $2.25. In the summer of next year, Imagine struck a deal with MCA TV to handle distribution of its television material. MCA and Imagine had a joint television venture which MCA had the exclusive network and home video distribution rights. Imagine retained domestic distribution rights for now and was banking on those rights becoming more valuable in the future as its theatrical and television programs gained exposure. Imagine's television division focused on half-hour comedies, whereas MCA focused on one-hour programs for the networks.
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Imagine Entertainment
Imagine Entertainment, formerly Imagine Films Entertainment, also known simply as Imagine (stylized in all caps as IMAGINE), is an American film and television production company founded in November 1985 by producer Brian Grazer and director Ron Howard.
Brian Grazer and Ron Howard met in 1982 on Night Shift, with Howard directing and Grazer co-producing. They followed it up by working on 1984's Splash.
The company was originally founded in November 1985, following the success of the motion picture Splash. It was originated from a merger of two production companies, Ron Howard's Major H Productions and Brian Grazer's self-titled production company Brian Grazer Productions. The company went public the following year. At first, the company set a deal with Tri-Star Pictures to produce feature films and television shows. Imagine granted Tri-Star the right of first refusal to syndicate their off-network shows produced by Imagine. Its offering was sold to Allen & Co. for 1,667,000 units for common stock and warrant it to purchase additional one-third of its stock. The net proceeds were used for development and production of theatrical films, television series, mini-series and made for television movies, although "the company does not presently intend to develop game shows or daytime soap operas." Imagine however has its prospectus having negotiations with Paramount Television for a commitment with ABC for a half-hour pilot and five episodes based on the comedy film Gung Ho.
Later the same year, Imagine had a five-year deal with Showtime/The Movie Channel, Inc. and it was able to develop projects for the channels Showtime and The Movie Channel. The agreement would kick-off with 1989 pay television availabilities and include pay-per view exhibition rights to all Imagine-produced films and about 30 motion pictures and "an unspecified number of original products" are also covered by the agreement. "There was the option of developing "long-form dramas" or series as part of the original material to be developed and aired exclusively on Showtime, adding that it could also acquire the syndication rights to these films and original products.
In April 1987, producers Philip and Mary Ann Hobel had inked a pact with Imagine Films Entertainment to develop and produce theatrical fare for the company through Hobel Productions, and expected to serve as the eyes and ears of Imagine of New York, and will be backed by a development fund for the purchase of books, plays, scripts and ideas to be developed as film projects, and plans to do both comedy and drama projects with a concentration on contempo themes and issues through a first-look agreement.
On July 29, 1987, Tri-Star Pictures and Imagine Films Entertainment announced the termination of obligations by Imagine to offer Tri-Star distribution rights for all of its television programming and feature films. Imagine, which received more than $1.7 million from Tri-Star, made a $1.3 million payment to Tri-Star, the companies said and advances from Tri-Star were eliminated. The companies said they "intend[ed] to work together on a project-by-project basis" and that projects already in development were not affected. Imagine said the modified agreement "provide[d] it with the flexibility to pursue certain financing and distribution opportunities which were not anticipated when the companies entered the original agreement."
In November 1987, Imagine Films Entertainment announced its plans to move its financial and administrative activities from New York to Los Angeles, and Neil Braun, who was president and chief-executive officer of the company would not be part of the move, and instead would leave the company and is expected to reveal of his plans shortly and his personal commitments would keep him from making the shift, but he called the consolidation "the right decision for the company" while expressing his disappointment at not being able to stay on.
On December 1, 1987, the company sealed a production and distribution deal with Universal Pictures via a "long-term multiple picture agreement" that they distributed Imagine's films for three to five films a year and the agreement "contemplates the possibility" that Universal acquired a 20% share in Imagine and it ran through November 1992 for financing 50% of 30 films. Imagine had an IPO in 1986 at $8 for a package of one share and one warrant. Shares rose to $19.25 before falling in the stock market crash in 1987 to $2.25. In the summer of next year, Imagine struck a deal with MCA TV to handle distribution of its television material. MCA and Imagine had a joint television venture which MCA had the exclusive network and home video distribution rights. Imagine retained domestic distribution rights for now and was banking on those rights becoming more valuable in the future as its theatrical and television programs gained exposure. Imagine's television division focused on half-hour comedies, whereas MCA focused on one-hour programs for the networks.