Ryan Kavanaugh Officially Wins Back Relativity, But TV Department to Spin Off by Late October
All the rest of the story of who did what who got what - and who is totally happy - and who is totally pissed - it's at THE WRAP.
Matt Donnelly on October 4, 2015 @ 1:09 pm
“My passion for Relativity is the same today as it was on the day I founded it,” Kavanaugh said in a statement
Ryan Kavanaugh has officially announced the reclaiming of all of his bankrupt studio’s assets, minus its robust TV department. The CEO and Chairman says he, along with a consortium of investors, will emerge from the Chapter 11 process with only $30 million in debt.
Though it’s currently unknown how much funding Kavanaugh raised for the remaining assets, which in includes film and education units, TheWrap previously reported the investment group includes Ron Burkle’s Yucaipa Investments, Elliot Management and the Toronto-based Catalyst Capital.
“My passion for Relativity is the same today as it was on the day I founded it. I want to thank our employees for their continued focus and dedication throughout the Chapter 11 process,” Kavanaugh said in a statement.