Centricus has acquired a majority stake in SK Global Entertainment, the independent film and television production and finance company behind “Crazy Rich Asians.” The pact is in in the …
Entertainment, the independent film and television production and finance company behind “Crazy Rich Asians.”
As part of the deal, Charlie Corwin, currently the co-chief executive officer, will now become the sole CEO and will oversee the company, including its corporate expansion and operations. John Penotti, who had been CEO with Corwin, will now become chief creative officer focusing on the global film and TV slates of SK Global. Sidney Kimmel, founder of SK Global, will continue in his role as chairman and Matt Aragachi will continue as the company’s chief financial officer.
“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,” said Penotti. “Thanks to Sidney Kimmel’s decades long vision, support, and trust, this is all possible.
“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. “This 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.
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