Relativity Digital
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| Limited liability company | |
| Industry | |
| Genre | Independent films |
| Founded | May 18, 2004 |
| Founders | Lynwood Spinks Ryan Kavanaugh |
| Headquarters | Beverly Hills, California, U.S. |
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Key people
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| Services | |
| Owner | YuuZoo (33.3%) |
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Number of employees
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Approximately 350 (2013) |
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| Website | relativitymedia |
Relativity Media LLC is an American media company headquartered in Beverly Hills, California, founded in 2004 by Lynwood Spinks and Ryan Kavanaugh. The studio was the third largest mini-major globally until bankruptcy on July 30, 2015. Its full-scale film studio acquires, develops, produces and distributes films. The company's partners and financial institutions have invested $20 billion as of 2012 in entertainment investments with partners such as Citibank, Merrill Lynch, Deutsche Bank and others. Relativity Media also works in fashion, sports, digital and music.
On July 30, 2015, the company filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York after lawsuits and missing loan payments. In March 2016, the company emerged from the bankruptcy.
The studio was founded by Ryan Kavanaugh and Lynwood Spinks in 2004 as a middleman company arranging multi-film slate deals with studios then arranging financial support through banks. Relativity Media would receive film equity, producer's credit and a fee. Initially, Stark Investments, a Wisconsin-based hedge fund, funded the company's single-picture business. By 2007, these investors stopped making movie-finance deals. Elliott Management, a $16 billion New York–based hedge fund run by Paul Singer, then took a minority share of the company plus access to around $1 billion in capital and a revolving credit line.
On January 4, 2009, the studio acquired the genre label Rogue from Universal, for $150 million. Relativity oversaw Rogue's 2009 film offerings, which consisted of Last House On The Left, The Unborn, Come Out Fighting, and My Soul to Take, as well as more than 30 projects in development. The deal also included the Rogue film library, featuring such films as Assault On Precinct 13 and The Strangers. On August 14, 2011, it was reported that Relativity was investing in SkyLand Film & Television Cultural Development Ltd, a China-based production company, signaling new opportunities in the Chinese market. One of the first arrangements was that the movie 21 and Over was partially filmed in Dongshigu, China. On May 18, 2012, it was reported that Relativity was in talks to buy German producer-distributor Senator Entertainment. In 2010, Relativity Media ventured into India with the help of Asian billionaire Keyur Patel who also owns two major TV Networks and has major investments in India in satellite, theatre chain and media productions.
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