Elliott Management to retain some interest; Burkle coin will fund Relativity ops
JP Morgan Chase & Co. to help raising funds to buy out Elliott’s share, but those talks stalled. Burkle already has ties to Relativity, having made a sizable loan to the company in November. Burkle, who made much of his money in the supermarket business, has made forays into Hollywood before. He backed Harvey and Bob Weinstein during their bid to buy Miramax from Disney in 2010. The indie shingle eventually went to a consortium of investors led by construction magnate Ron Tutor and Colony Capital. Elliott has backed Relativity-arranged financing deals both Sony and Universal. Friction mounted between Relativity and U, however, when the two began competitively dating similar “Snow White” projects.