Relativity CFO Andrew Matthews Steps Down (EXCLUSIVE)

Andrew Matthews has stepped down as chief financial officer and co-chief operating officer of Relativity Media, Variety has learned.

Relativity is currently looking for a replacement. The company had no comment on Matthews’ departure.

The move comes as Relativity is coming up with a reorganization plan that it will follow as it hopes to exit bankruptcy  by the end of the year or early 2016. The company filed for Chapter 11 protection last summer citing almost $1.2 billion and assets with a book value of just under $560 million in filings.

This week, a U.S. Bankruptcy Court judge approved the sale of Relativity’s television operations to a group of hedge funds that includes Anchorage Capital, Luxor Capital, and Falcon Investment Advisors. There is a proposal in place that would see the rest of the company, which includes its film operations, education division, and sports agency, bought by a group of investors led by Relativity founder Ryan Kavanaugh.

On Monday, Relativity announced that Tucker Tooley planned to step down as president of the company.

Prior to joining Relativity, Matthews served as president of RKO Pictures, chief operating officer of Senator Entertainment, and EVP of finance and international affairs for New Line Cinema.

More Film

  • 'Dark Knight' Changed Movies, and the

    Christopher Nolan's 'Dark Knight' Changed Movies, and the Oscars, Forever

    Andrew Matthews has stepped down as chief financial officer and co-chief operating officer of Relativity Media, Variety has learned. Relativity is currently looking for a replacement. The company had no comment on Matthews’ departure. The move comes as Relativity is coming up with a reorganization plan that it will follow as it hopes to exit […]

  • Boy Erased Trailer

    Nicole Kidman, Russell Crowe Send Lucas Hedges to Gay Conversion Therapy in 'Boy Erased'

    Andrew Matthews has stepped down as chief financial officer and co-chief operating officer of Relativity Media, Variety has learned. Relativity is currently looking for a replacement. The company had no comment on Matthews’ departure. The move comes as Relativity is coming up with a reorganization plan that it will follow as it hopes to exit […]

  • Ron Satlof

    Ron Satlof, Veteran TV Director, Dies at 79

    Andrew Matthews has stepped down as chief financial officer and co-chief operating officer of Relativity Media, Variety has learned. Relativity is currently looking for a replacement. The company had no comment on Matthews’ departure. The move comes as Relativity is coming up with a reorganization plan that it will follow as it hopes to exit […]

  • Wolf-Kasteler Promotes Graehme Morphy, Annick Muller

    Wolf Kasteler Promotes Graehme Morphy, Annick Muller (EXCLUSIVE)

    Andrew Matthews has stepped down as chief financial officer and co-chief operating officer of Relativity Media, Variety has learned. Relativity is currently looking for a replacement. The company had no comment on Matthews’ departure. The move comes as Relativity is coming up with a reorganization plan that it will follow as it hopes to exit […]

  • Comic Con Hall H Panel Gender

    Comic-Con: Why Is Hall H Still Lacking in Female Panelists?

    Andrew Matthews has stepped down as chief financial officer and co-chief operating officer of Relativity Media, Variety has learned. Relativity is currently looking for a replacement. The company had no comment on Matthews’ departure. The move comes as Relativity is coming up with a reorganization plan that it will follow as it hopes to exit […]

  • Dwayne JohnsonLegendary and Universal Pictures' Present

    Don't Blame Dwayne Johnson for 'Skyscraper's' Underwhelming Debut

    Andrew Matthews has stepped down as chief financial officer and co-chief operating officer of Relativity Media, Variety has learned. Relativity is currently looking for a replacement. The company had no comment on Matthews’ departure. The move comes as Relativity is coming up with a reorganization plan that it will follow as it hopes to exit […]

  • Millarworld Comics in Development at Netflix

    Millarworld Film Adaptations in Development at Netflix With Ted Melfo, Neal Moritz

    Andrew Matthews has stepped down as chief financial officer and co-chief operating officer of Relativity Media, Variety has learned. Relativity is currently looking for a replacement. The company had no comment on Matthews’ departure. The move comes as Relativity is coming up with a reorganization plan that it will follow as it hopes to exit […]

More From Our Brands

Access exclusive content