IM Global CEO Stuart Ford has bought out beleaguered financier David Bergstein’s minority stake in the foreign sales and distribution company IM Global. The deal was closed several weeks ago, sources said. Ford was on vacation and had no comment.
Aramid Entertainment Fund and Screen Capital Intl. financed the transaction, acting as IM Global’s bank. Ford bought out Bergstein’s shares.
Meanwhile, the troubled project “Nailed,” which was shut down four times for not being able to meet its payroll, wrapped production last week. IM Global was selling rights to the Bergstein-financed picture at this May’s Cannes Film Festival. It is unclear whether Global will continue to sell the David O. Russell pic, which stars Jake Gyllenhaal.
IM Global will continue selling rights to thriller “44 Inch Chest,” starring Tim Roth; “Bunraku,” starring Ron Perlman; horror title “Paranormal Activity”; Tennessee Williams drama “The Loss of the Teardrop Diamond”; Bill Maher doc “Religulous”; and “Shelter,” starring Julianne Moore.
In October 2007, Bergstein and Ron Tutor’s the Capco Group, which owns ThinkFilm and the U.K.’s Capitol Films, took a stake IM Global. Ford retained voting control while becoming the company’s second-biggest shareholder. IM Global remained separate from Capco’s other film holdings. IM Global continued its three-year exclusive output deal with Intermedia for film and TV titles.
Bergstein-owned ThinkFilm, which has been financially strapped, opened Marina Zenovich’s “Roman Polanski: Wanted and Desired” in limited engagements on July 11. Also in current release is Werner Herzog’s doc “Encounters at the End of the World.”