Relativity Media ends bankruptcy case, putting The Crow, Masterminds back on track
The long-standing bankruptcy case, that has stalled the production and release of almost a half-dozen Relativity Media films, is finally set to come to a close this month. Relativity Media announced today that the studio has filed the necessary documents required by Judge Wiles of the United States Bankruptcy Court for the Southern District of New York for the company to emerge from Chapter 11.
According to a statement released by the company on Saturday evening, “Relativity Media has raised, and submitted to the court, final documentation of more than $100 million in new funding; concluded and signed its deal for Dana Brunetti to be President of Production; and concluded a deal with Trigger Street.”
“I’ve joined Relativity for the opportunity to build a studio and to continue on a larger level with the type of projects, ideas, and forward thinking that’s proven successful at Trigger Street,” said Dana Brunetti, President of Relativity’s Motion Picture and Television Group. “Bringing our mindset to the existing architecture at Relativity is a logical next step. It’s an exciting time both at the studio and the industry as a whole, and I look forward to taking the helm to help steer the ship on its new course.”
“We are thrilled to have Dana and the Trigger Street team at the creative helm ýof Relativity. Their track record speaks for itself and is one of the most exciting steps forward for the company,” said a Relativity spokesperson. “Having developed and produced such successful content as Captain Phillips, Fifty Shades of Grey, The Social Network, 21 ýand House of Cards to name a few, Dana brings a whole new level of creative success to Relativity. We are equally as excited to have closed a deal on Trigger Street, grateful for Kevin’s support in this deal and that he was a driving force in closing the deal.”
Relativity Studios is the largest privately-held, independent film studio and has produced, distributed or structured financing for more than 200 motion pictures, generating more than $17 billion in worldwide box-office revenue and earning 60 Oscar nominations.
Relativity Studios has several upcoming movie releases, including “Before I Wake,” which directed by Mike Flanagan and set to star Kate Bosworth, Thomas Jane & Jacob Tremblay. “Kidnap” has director Luis Prieto, with Halle Berry starring.
Two of the more popular releases emerging from the case are “Masterminds,” directed by Jared Hess and starring Zach Galifianakis & Kristen Wiig, and “The Crow” directed by Corin Hardy. That film will star Andrea Riseborough & Forest Whitaker.
Also set to release from Relativity Studios are “The Strangers 2,” directed by Marcel Langenegger and starring Gemma Ward & Liv Tyler, and “Hunter Killer”. That film will be directed by Donovan Marsh and will star Gerard Butler, Gary Oldman & Billy Bob Thornton.
Relativity Studios’ previous films include Immortals, Limitless, The Fighter, Act of Valor and Safe Haven. The company’s scripted television division is behind CBS’s newest hit show, “Limitless,” based on the film released by Relativity Studios in 2011 that grossed more than $160 million worldwide.
In 2015 Relativity Digital Studios released its first feature-length film, Summer Forever, and is set to release two additional films in the Summer Forever franchise later this year.
One of the films held from release was “The Bronze,” which was picked up by Sony Pictures Classic and will release this Spring. The film stars Melissa Rauch of “The Big Bang Theory,” in a film that she co-wrote with her husband.