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Whitsett Hill Entertainment has restructured to focus on pics in the $15 million to $40 million budget range.

The company, which will now be known as Reliant Pictures, will continue to be run by CEO Thom Mount and prexy Jon Gumpert.

Lower-budgeted films developed under the Whitsett Hill Films banner will be moved to a new, separate company with that name, with Mark Davis and Ryan Howe leaving the parent company to continue to run Whitsett Hill Films on their own.

Davis will become acting CEO of Whitsett Hill Films and Howe will become prexy. Their banner will have different distribution and financing partners than Reliant.

Reliant has a domestic distribution deal with MGM that calls for the Lion to cover marketing costs. Reliant Pictures Intl., a London-based operation run by Penny Wolf, handles distribution overseas.

Reliant Pictures has a $75 million credit facility with Allied Irish Bank, London, and is developing three to four pics for the next year. Among the projects in the works: “Soul Code,” written and to be directed by “Tron” helmer Steven Lisberger, and an adaptation of Joe McGinnis Jr.’s tome “The Delivery Man.”