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Relativity Bankruptcy Plan Lets Kavanaugh Keep `Masterminds'

  • Studio CEO and investors to pay $60 million for film assets
  • Hedge funds get TV shows including `To Catch a Poacher'
Updated on

Ryan Kavanaugh is holding on. The Relativity Media LLC founder and chief executive officer has found a way to keep control of his bankrupt movie studio and possibly allow stalled films including “Masterminds,” “The Disappointments Room” and “The Crow” to make their way into theaters.

Relativity went before a Manhattan bankruptcy judge Monday to seek approval of a plan that will help its TV unit exit bankruptcy as early as Oct. 20 through a sale to a group of hedge funds, while Kavanaugh keeps the rest of the company, which will have just $30 million in debt.