In February, 1986, Regina Motion Picture, Video & Sound Ltd. was established when Kevin DeWalt assumed one half of a partnership with Ken Krawcyzk in Videotrends, a Moose Jaw, Saskatchewan-based video company. Regina Motion Picture, Video & Sound Ltd. was incorporated on April 15, 1986 and commenced operation in Regina with DeWalt as its president and Krawczyk as its secretary-treasurer. Early contracts for the company included corporate videos, short documentaries, commercial spots and music videos. By 1988, over seventy corporate videos had been produced. In 1989, the company produced its first television drama, The Great Electrical Revolution.

Also in 1989, Regina Motion Picture, Video & Sound Ltd. was reorganized to meet the increasing challenges of the broadening film and video market. Minds Eye Pictures was formed as the division that focused on the creative development and production of television commercials, corporate and educational videos, and on film/drama development. Another division, Quantum Post Production, was formed to focus on all aspects of post-production. Throughout the 1990s, Minds Eye Pictures continued to expand its production work with a variety of feature films, and television series, television movies of the week and television mini-series.

In 2001, Regina Motion Picture, Video & Sound Ltd. (with Minds Eye Pictures as a division thereof) and another business venture, Minds Eye New Media Inc., amalgamated to form Minds Eye Entertainment. The amalgamated corporation was registered in Saskatchewan on March 1, 2001. Kevin DeWalt continued as President and Chief Executive Officer of the company. Highlights in the history of Minds Eye Entertainment include the international success of the Gemini Award-winning children's television series Incredible Story Studio, and the television mini-series The Englishman's Boy which earned six Gemini Awards and the Seoul Drama Award in 2008. Minds Eye Entertainment embraced the digital age with interactive projects such as the Living Dinosaur Project, and web programs including My Global Adventure and inSayshable. The company also partnered with production companies in France, Germany, Switzerland, Ireland and the United Kingdom to produce various television series and feature films. In its history, Minds Eye has operated production offices in Los Angeles, California, Edmonton, Alberta and Vancouver, British Columbia.

Currently (2017) Minds Eye Entertainment continues to maintain its head office in Regina, however it also operates a satellite office from Kelowna, British Columbia that was established in 2016. It has produced over fifty television and movie productions, many of which have been distributed by its subsidiary company, Minds Eye International.