Looks like Relativity Media will be making a lot of announcements to convey a sense of optimism about its financial prospects in the week leading up to next week’s hearing to determine whether it’s ready to emerge from Chapter 11 bankruptcy protection.
The latest — following one this morning describing new financial backing: The studio says it has a five-year deal with the Los Angeles Media Fund (LAMF) co-finance and produce upcoming feature films.
The announcement doesn’t disclose terms of the agreement, which involves films that Relativity plans to distribute both in the U.S. and abroad. But it says that the entities already co-financed and produced a thriller, The Disappointments Room, due to be released this year.
“Relativity and LAMF share a common vision for creating great content,” says Dana Brunetti, who’s identified as President of Relativity Studios even though the company’s deal to buy the production operation he co-owns with actor Kevin Spacey is not due to take place until after it emerges from bankruptcy. “We are thrilled to work more closely with them as Relativity embarks on an exciting next chapter.”
LAMF co-CEO Jeffrey Soros, nephew of financier George Soros, says he’s optimistic about “Kevin’s and Dana’s experience and track record as a producing team in creating highly entertaining and commercially successful movies, coupled with Relativity’s new ambitions and distribution capabilites.”
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