EXCLUSIVE: I’ve just heard that Ryan Kavanaugh’s Relativity Media has closed a new round of financing with its longtime financial backer, New York-based hedge fund Elliott Associates. The amount is “in the $100s millions” which, according to my source, “is substantial enough to allow Relativity to close pending transactions which ensures that the company can produce, finance, and market enough films to make it competitive with, if not more so, than any major studio”. Ryan Kavanaugh confirmed my scoop and just told me, “We doubled in size and went from a production company to a studio. We have more capital needs.” Meanwhile, Elliott is proving the most patient of financiers.
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