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4 items from 2015

Relativity TV Has Earned $22 Million Since Bankruptcy

28 September 2015 9:34 AM, PDT | The Wrap | See recent The Wrap news »

Since Relativity Media filed for bankruptcy on July 30, the company’s television division has produced more than $22 million in revenues, exceeding projections of $18 million for the two-month period through Sept. 30, according to a court filing on Sunday. However, the company’s chief restructuring officer Brian G. Kushner reported that “in at least two instances” Relativity TV heads Thomas Forman and Andrew Marcus “have had to establish escrow arrangements … to secure certain of these payments from large customers.” As of Sept. 30, $8.6 million of cash receipts for Relativity TV had been set aside in escrow accounts. The filing »

- Thom Geier

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Relativity Bankruptcy Judge Approves Incentives for Key Executives

28 September 2015 9:15 AM, PDT | The Wrap | See recent The Wrap news »

U.S. Bankruptcy Court Judge Michael Wiles approved a revised incentive program for key staffers with Ryan Kavanaugh‘s Relativity Media at a New York court hearing on Monday. The judge also granted Relativity attorney Craig Wolfe’s request to keep the specific dollar amounts of the Key Employee Incentive Plan for 10 major employees placed under seal so that competitors can’t back into compensation information. The salaries for these individuals, including the lucrative TV division’s Thomas Forman and Andrew Marcus, had not previously been disclosed, Wolfe noted. Also Read: Relativity Proposes Selling Nicholas Hoult Movie 'Collide' Back to Financiers Wiles agreed. »

- Thom Geier and Tony Maglio

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Relativity Restructuring Officer, Investment Banker Predict Lively Auction (Exclusive)

27 August 2015 2:05 PM, PDT | Variety - Film News | See recent Variety - Film News news »

Relativity Media’s bankruptcy this summer left nearly 150 creditors hoping to get paid and the future of the studio behind “Limitless” and “Act of Valor” hanging in the balance.

There have been legal filings and lawsuits over unpaid bills, fights over the release of upcoming films, such as the Zach Galifianakis comedy “Masterminds” and the Halle Berry thriller “Kidnapped,” and questions about who will buy the financially distressed company in a planned October auction. The high-profile failure has inspired a wave of negative stories about the management of Relativity and founder Ryan Kavanaugh.

In an exclusive interview with Variety, Brian Kushner, the Fti Consulting managing director who was appointed the studio’s chief restructuring officer, and C.J. Brown, the Blackstone senior managing director who is serving as Relativity’s investment banker leading its auction, expressed confidence that the media attention will boost interest in the studio. The company already has »

- Brent Lang

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28 January 2015 7:30 PM, PST | Variety - TV News | See recent Variety - TV News news »


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2015 | 2013 | 2012 | 2010 | 2007

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