Relativity, EuropaCorp Clash Over Unpaid Bills (Exclusive)

Relativity, EuropaCorp Clash Over Unpaid Bills (Exclusive)
Tensions are mounting between EuropaCorp and Relativity Media over unpaid bills related to the film companies’ distribution joint venture, Variety has learned.

In a document to shareholders last week, EuropaCorp said that Relativity was in danger of losing its 50% stake in the venture after failing to pay its share of the quarterly overhead. If it doesn’t pay between $2 million to $3 million by Dec. 14, EuropaCorp says it will gain full control of the distribution arm and Relativity will lose access to its services. The joint venture is dubbed Red and has been used to release such films as “Masterminds” and “Nine Lives,” as well as upcoming projects like Luc Besson’s “Valerian and the City of a Thousand Planets.”

Relativity emerged from bankruptcy protection earlier this year with its founder Ryan Kavanaugh retaining control of the film studio. Since that time, however, it has struggled to put together a slate of successful films,
See full article at Variety - Film News »

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