relativity media files for chapter 11 bankruptcy protection
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
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*

relativity media files for chapter 11 bankruptcy protection relativity media files for chapter 11 bankruptcy protection

 



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*

relativity media files for chapter 11 bankruptcy protection relativity media files for chapter 11 bankruptcy protection

 



GMT 18:41 2017 Sunday ,17 September

Moriya takes slender Evian lead

GMT 21:06 2017 Monday ,21 August

3 arrested for possessing drugs in North Sinai

GMT 13:52 2017 Thursday ,16 November

Zimbabwe’s army deprives first lady from presidency

GMT 08:47 2017 Saturday ,23 December

Kerry meets with Lavrov on Ukraine, urges troop pullback

GMT 14:54 2017 Sunday ,17 December

OPEC daily basket price announced for Wednesday

GMT 06:57 2016 Sunday ,17 April

Air France to resume flights to Iran tomorrow

GMT 03:06 2017 Wednesday ,13 December

US Says Time To Act On North Korea

GMT 01:57 2017 Tuesday ,12 December

8000 terrorists killed in Syria during past 3 months

GMT 18:08 2017 Thursday ,23 February

Turkey says 56 IS terrorists killed in northern Syria

GMT 19:14 2016 Thursday ,20 October

Long-necked dino species discovered in Australia
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday