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Stuart Ford, founder and former CEO of IM Global, on Wednesday announced the launch of a new international film and TV production and licensing company, AGC Studios.
AGC Studios has initial backing from three partners: Latin American private asset management firm MediaNet Partners; Silicon Valley entrepreneur, Symantec CEO and Fibonacci Films chairman Greg Clark; and Image Nation Abu Dhabi, one of the leading media and entertainment companies in the Arabic-speaking world.
Ford’s new company plans to develop, produce, finance and license feature films, TV as well as digital and musical content.
Former IM Global CFO Miguel Palos will serve as Chief Operating Officer of the new company, which will have headquarters in both London and L.A.
The new studio’s Hollywood output will have a wide-ranging multicultural focus, designed for exploitation across global platforms including major studio partnerships, streaming platforms, traditional broadcast and cable television networks and independent distributors, both in the U.S. and internationally.
Las summer, Ford was forced out of IM Global after a dispute about its direction with Tang Media Partners, which had acquired the company for $200 million.
According to multiple reports, the founder’s exit was acrimonious, stemming from a deep-rooted disagreement over the future plans for the company. Tang acquired “Spotlight” distributor Open Road Films last summer for an undisclosed price, a move Ford was said to have opposed.
Under Ford’s leadership, IM Global had some notable success on the film front, including the critically acclaimed Mel Gibson war drama “Hacksaw Ridge.”