Arab Today, arab today relativity media files for chapter 11 bankruptcy protection
Last Updated : GMT 17:38:33
Arab Today, arab today
Arab Today, arab today

Relativity Media files for Chapter 11 bankruptcy protection

Arab Today, arab today

Arab Today, arab today Relativity Media files for Chapter 11 bankruptcy protection

Ryan Kavanaugh
New York - UPI

Relativity Media has announced it filed voluntary petitions under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York.

The move is intended to strengthen its balance sheet and recapitalize the company.

Relativity Sports, Relativity EuropaCorp Distribution -- the film marketing and distribution joint venture between Relativity and EuropaCorp -- and Relativity Education were not among the subsidiaries included in the filing.

The Chapter 11 process will enable Relativity to continue to operate while restructuring its finances, thereby preserving value for its stakeholders.

Relativity also announced that in conjunction with the filing, it is pursuing a sale process for the company under Section 363 of the bankruptcy code.

"Relativity continues to pursue its mission as a next-generation global media company, and we remain firmly committed to our film and television businesses. The actions we are announcing today will protect our valuable franchise and allow us to emerge as a stronger, more focused company," Ryan Kavanaugh, the company's chief executive officer, said in a statement Thursday. "Our board and management team explored a variety of options to refinance Relativity's debt, and we ultimately determined that the protection afforded by a court-supervised reorganization process will provide additional time and structure to achieve our financial and strategic objectives."

Relativity's films include Limitless, Mirror Mirror, Safe Haven, Beyond the Lights, The Social Network and The November Man, as well as the upcoming Masterminds.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today relativity media files for chapter 11 bankruptcy protection Arab Today, arab today relativity media files for chapter 11 bankruptcy protection

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today relativity media files for chapter 11 bankruptcy protection Arab Today, arab today relativity media files for chapter 11 bankruptcy protection

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Media: آخر الأخبار
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday