Los Angeles-based Tang Media Partners has acquired a majority stake in IM Global, the film and TV studio of Anil Ambani-led Reliance Entertainment.

Tang Media and IM Global have also tied up with Asian internet giant Tencent for a new TV production joint venture, the companies said.

Global platform The combined vehicles will provide IM Global and IM Global Television with significant capital to further invest in film and television programming development, production and distribution and to expand its global distribution platform.

Reliance will continue its relationship with IM Global which stems back to 2010 and via a reinvestment in the platform is helping to expand the independent studio into partnership with Tencent, whose subsidiaries include social platforms, communications, online games, news and information, and media and content, including video programming.

Ownership position TMP’s equity investment in IMG Global represents a majority ownership position in the parent company and Tang is now the Executive Chairman of the IM Global board.

Reliance Entertainment and Stuart Ford, CEO, IM Global, will both remain as significant shareholders in the film and television production, financing, sales and distribution company.

They will also maintain seats on the parent company’s board and on the IM Global Television board alongside TMP and Tencent.

Ford will continue as Chief Executive Officer of IM Global under a new multi-year employment deal as well as serving in a similar capacity within the new television venture.

Currently, IM Global Television President Mark Stern will continue in his role.

TMP, based in Los Angeles and Shanghai, is active in the development, financing, production, and distribution of unique entertainment content focused on the rapidly evolving intersection where China and Hollywood meet.

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