It's Official: Ron Burkle Acquires “Significant” Equity Stake in Relativity

Report: Ron Burkle Buying Relativity Stake From Elliott Management
Ex-Relativity Media President Michael Joe Leaves Elliott

(West Hollywood, California) January 23, 2012 – Yucaipa Companies, a premier investment firm owned and run by Ron Burkle, today announced that it has purchased a significant equity stake in Relativity Media, a full-fledged film distribution company, television production company, sports agency, Internet and interactive media company. Yucapia’s equity investment follows the successful close of debt financings led by Colbeck Capital, a strategic lender run by Jason Colodne and Jason Beckman, and funded by Burkle.

This investment comes on the heels of the studio’s first year as a full-fledged distribution company. During the past 12 months, the studio has had unprecedented success with two number one opening films; marking Relativity as the only mini-major to achieve such a milestone. It is one of the few mini-majors to have had two films exceed 30 million dollars in domestic box office in their opening weekend.

Over the past year the studio has enjoyed the success of films such as Limitless, The Fighter and most recently Immortals, which has just broken $230 million in worldwide box office receipts, the highest R-rated action opening weekend in 2011, and the third highest opening weekend for 2011 R-rated films. (more…)

This article was printed from https://deadline.com/2012/01/its-official-ron-burkle-acquires-significant-equity-stake-in-relativity-219144/