Spinks to exit president post
Lynwood Spinks is stepping down from his president and co-manager post at Relativity Media, the company he formed with Ryan Kavanaugh in 2004.As part of the restructuring, Kavanaugh will retain the title of CEO and managing director. Spinks, who holds less than a 50% stake in the financing and production company, will segue to a non-exclusive consultant role with Relativity. Although Spinks held a top post with the company and took an executive producer credit on such Relativity titles as “3:10 to Yuma” and “Catch and Release,” he had been largely absent from day-to-day decisionmaking for the past year. Spinks and Kavanaugh’s relationship had deteriorated during that period, and lawyers were involved in an effort to reach a resolution. “There have been rumors that Ryan and I had issues with our partnership,” Spinks said. “I had been dealing with some health issues over the last year which caused Ryan and me to not be in as close communication as I would have hoped. I am thrilled to be back at Relativity, especially at this time of growth and success.” Under their new arrangement, Spinks will work closely with Kavanaugh, specifically focusing in the coming months on their Beverly slate-financing deal with Sony Pictures Entertainment. “It is unfortunate that Lynwood and I had this misunderstanding,” Kavanaugh said. “Lynwood is a good man and someone I have learned from. He was a critical part of the growth of Relativity and will continue to be an active member in his role as a consultant. We work very well together, and I am happy that we are able to move past this time in our business and personal relationship.” Spinks, a former chief operating officer at Industry and an exec at MCA and Carolco, met Kavanaugh when the two worked on a media fund deal together. He was more of a silent partner at Relativity, working behind the scenes while Kavanaugh took on a more visible role in the community.