You’re just in time for this week’s edition of The Kavanaugh hour! In this week’s episode, Relativity has a new financial plan yet again, Kavanaugh has finally spoken to the public outright and Jane Got a Gun has still yet to be Jane Got Finally Released.
The Toronto based Catalyst Capital, of which decided to take on Relativity’s huge debts, has now been bought out by Anchorage Capital (a New York firm), and are now in charge of the bulk of Relativity’s relatively large senior debts. Relativity are still in hot water, with many films’ futures uncertain (Jane Got A Gun, for instance), and without many things to say to the public, we weren’t sure what CEO Ryan Kavanaugh was intending for the future. Well, he has finally spoken to the public (a few times within a short period, in fact), and he has tried to set the story straight. Here is a bit of what he had to say:
“Relativity’s current lenders, including Anchorage, decided that it was in the company’s best interest for them and others to own all of the senior debt versus having one group own such a large stake,”
“Our lenders have been very cooperative and have been working closely with us to ensure that Relativity continues to move forward, grow and execute our business plan,”
There is a lot of optimism here, and while it is a possible option that Relativity files for bankruptcy, it doesn’t look like Kavanaugh is ready to go down that road just yet. However, the future still is uncertain, and if anything, these extra complications are just making both the present and the distant fate of Relativity all the more puzzled. Until there is a set decision that won’t change many times within a few weeks, it may not be safe to bank on any of the shelved films being released anytime soon. It also does not help that Anchorage Capital has declined to comment, so this may not be set in stone either. For now, this revolving door of investors and outcomes continues to spin and not the cylinder on Natalie Portman’s revolver in her (hopefully) upcoming western. Tune in next week when a new firm from who knows where else reportedly takes the debt on themselves.
There is more information here. Thanks to Belerofonte for the article. Hopefully, Anchorage will be the last player to enter the game, and the game to save Relativity and its movies can finally start.