×

Relativity Media Selling to UltraV Holdings

Relativity Media, the beleaguered movie and television studio that’s been running on fumes, has entered into an agreement to sell the bulk of its remaining assets to UltraV Holdings LLC. The studio’s new owner is described in a release as a joint venture among funds managed by Sound Point Capital Management and RMRM Holdings.

UltraV says it will inject capital into the company so it can begin producing and developing content. It also made a point of stressing that it believes Relativity’s distribution agreement with Netflix is still in effect. Netflix has previously tried to get out of that pact as Relativity’s financial woes have exacerbated.

Weighed down by film flops such as “Out of the Furnace” and “Earth to Echo,” Relativity filed for bankruptcy protection in 2015. At the time it had a book value of $560 million, and liabilities of nearly $1.2 billion. After exiting Chapter 11 in 2016, the studio struggled to gain its footing (at one point it was nearly run by Kevin Spacey), and was never able to raise enough money to keep operations going. In September of 2016, it released two films, “The Disappointments Room” and “Masterminds,” but both flopped.

The sale to UltraV needs court approval, but the prospective new owners expect it to close in the next 45 to 60 days. Ryan Kavanaugh, the founder of Relativity Media, was not mentioned as being part of the transaction. However a press release included a quote from the one-time mogul.

“I still very much believe in the Relativity Media business model,” Kavanaugh said in a statement. “Unfortunately, the company faced the significant challenge of a complicated capital structure and an evolving industry. I could not be more pleased about this agreement with UltraV. The transaction will result in a fresh start for the company, and it turns Relativity over to owners who have a sincere appreciation for the business, the art and the long term needs of the industry.”

Deadline first reported the sale agreement.

More Film

  • it chapter two, comic con

    Comic-Con: 4500 Gallons of Fake Blood and Everything Else to Know About 'It Chapter Two''

    Comic-Con 2019 kicked off with a stacked presentation from the director and cast of “It Chapter Two” on Wednesday, inspiring a curious amount of joy at San Diego’s Spreckles Theater in spite of the abject terror offered up by the film. The closing chapter to 2017’s record-obliterating “It,” the highest grossing R-rated horror film of [...]

  • 'Between Me and My Mind' Review:

    Film Review: Trey Anastasio in 'Between Me and My Mind'

    Trey Anastasio doesn’t look like a rock star. With his thick rimless glasses and flop of sandy red hair, you might say he resembles John Sebastian, but really, he looks like a mashup of Mike White and Jon Cryer and the filmmaker Chris Smith. He’s an appealingly ordinary shaggy-geek dude, like some guy you might [...]

  • Photo taken July 18, 2019, from

    More Than 20 Feared Dead in Arson Attack on Japan's Kyoto Animation

    UPDATED: More than 20 people are feared to have died Thursday morning in an arson attack on the Kyoto Animation company in Japan, shocking a nation in which extreme violence is very rare. Emergency services in Kyoto City received a call about 10:35 a.m. local time reporting an explosion on the first floor of the [...]

  • sith trooper

    Sith Trooper Revealed From 'Star Wars: The Rise of Skywalker'

    “Star Wars: The Rise of Skywalker” revealed a new storm trooper uniform Wednesday at San Diego Comic Con as part of a special exhibit celebrating the evolution of the storm trooper design. Dubbed the Sith trooper, the new uniform sports all-red armor plates with a matching red and black blaster. Also decorating the armor is [...]

  • Dunkirk

    Harry Styles Is the Perfect Prince Eric; Why He'd Rock 'Little Mermaid' Role

    Could Harry Styles be the perfect Prince Eric? One day after the announcement that the One Direction star is “in early negotiations to play the iconic ‘Little Mermaid’ role,” the internet exploded with speculation as to how he would portray the object of Ariel’s affections. “I can see lots of reasons why Harry is perfect,” [...]

  • The Lion King

    Film News Roundup: PETA Sponsors Rescued Lion in Jon Favreau's Name

    In today’s film news roundup, PETA honors Jon Favreau for “The Lion King,” “Tigers Are Not Afraid” gets a theatrical release, a Kirk Franklin biopic is in development and “The Sixth Sense” gets an anniversary showing in Philadelphia. HONOR The People for the Ethical Treatment of Animals is sponsoring a rescued lion to honor director [...]

  • Tokyo Director-in-Focus-at-Japan-Now

    Nobuhiko Obayashi set as Japanese Director in Focus at Tokyo Film Festival

    Indie director, Nobuhiko Obayashi will be feted as the director in focus at the Japan Now section of this year’s Tokyo International Film Festival. The festival will give a world premiere to his “Labyrinth of Cinema.” Supporting his art by shooting commercials, Obayashi is an indie whose dreamy works have influenced numerous other directors in [...]

More From Our Brands

Access exclusive content