Centricus Acquires Majority Stake in CRAZY RICH ASIANS Studio SK Global Entertainment

Centricus, the London-based global investment firm, TODAY announced that it has acquired a majority stake in SK Global Entertainment, a leading independent film and television production and finance company known for their global success with the film Crazy Rich Asians.

Centricus will provide additional capital to accelerate SK Global's growth strategy through IP ownership and financing strategic acquisitions of complementary businesses. Earlier this year, SK Global acquired Critical Content, a premier production company focused on unscripted television series including MTV's Catfish and Netflix's Get Organized with The Home Edit.

Charlie Corwin will become Chief Executive Officer and oversee the company, including corporate expansion and operations, and John Penotti will 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 CFO.

"With the rapid expansion of platforms and theatrical releases around the world, this is a unique time of great opportunity for independence at scale. We look forward to working with the Centricus team, who share our vision for a truly global independent studio," said SK Global CEO Charlie Corwin.

"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 SK Global Chief Creative Officer John Penotti.

Corwin and Penotti added, "Thanks to Sidney Kimmel's decades long vision, support, and trust, this is all possible. We are incredibly grateful to Sidney for his leadership and belief in our team, and we will continue to apply the important lessons we learned from him."

"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. We intend to continue investing in that vision through the financing of both content and acquisitions in this fast-growing space."

Sidney Kimmel said: "This acquisition will allow SK Global to achieve new heights under the leadership of Charlie and John. With Centricus' support, I know SK Global can develop global franchises and content that will have global resonance. I could not be more proud of the company we've built, and I am confident SK Global will prosper under the stewardship of incredible leaders."

SK Global has a robust film and TV slate for 2022 and beyond. These include the September 22nd release of their limited series Thai Cave Rescue on Netflix in September, Season 2 of Delhi Crime on Netflix (currently #4 on Netflix, worldwide), the sequels and spin-offs of their hit Warner Bros' film Crazy Rich Asians, the premium TV adaptation of their classic film 9 ½ Weeks, the TV adaptation (with FOX) of Hell or Highwater, and the international spy series Nameless­ starring Henry Golding based on the Dean Koontz book series, amongst many others.

SK Global's unscripted company, Critical Content, will continue its prodigious output, which already enjoys having many on-air series including over 200 episodes of MTV's Catfish, Season 16 of The Great Food Truck Race, Netflix's Get Organized with The Home Edit with Reese Witherspoon's Hello Sunshine, E!'s CELEBRITY GAME FACE starring Kevin Hart, and the upcoming Netflix shows INSTANT DREAM HOUSE and Buy My House.

The London and Century City offices of Latham & Watkins LLP served as legal advisor to Centricus and Eisner LLP and Ziffren Brittenham LLP represented SK Global and Sidney Kimmel, respectively.

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