IMG might offload production entities
Has hired advisory and banking firm to explore alternativesLONDON -- Global sports, entertainment and modeling group IMG Worldwide said Tuesday that it was looking at potentially offloading U.K.-based production entities Tiger Aspect and Darlow Smithson.
In a brief statement, IMG said it had hired New York-based boutique investment advisory and banking firm the Raine Group to explore strategic alternatives for the two companies.
Tiger Aspect -- whose hits include "Billy Elliot" and kids animation "Charlie and Lola" is one of the U.K.'s best-known producers, while specialist factual features producer Darlow Smithson, is known for such theatrical movies as "Touching the Void."
In a statement IMG the Raine Group "has been hired to explore strategic alternatives for Tiger Aspect and Darlow Smithson. The IMG-owned production companies are assessing various alternatives, including a potential sale."