Ron Howard and Brian Grazer today named Tony Hernandez and Lilly Burns as presidents of Imagine Entertainment. The two, who founded Jax Media (which Imagine took a majority stake of in 2018), will oversee both film and TV.
Imagine Entertainment, the production banner run by Ron Howard and Brian Grazer, has been the subject of renewed acquisition talks in recent weeks, according to multiple sources. Investors and potential buyers include an undisclosed sovereign wealth fund from the Middle East, which has been quietly exploring American media investments of late. Also kicking the tires on Imagine are Kevin Mayer and Tom Staggs, the former Disney executives who have a bankroll of up to $2 billion from private equity giant Blackstone to buy up independent content companies; as well as international banks.
Differing business philosophies surrounding execution of growth strategies and new business interests ultimately led to the split, according to a source familiar with situation, characterizing the departure as amicable.
The former Fox executive joins Ron Howard and Brian Grazer’s company after heading Time Inc.
Ron Howard and Brian Grazer are teaming with the company behind the Roseanne reboot and a slew of other TV comedies.