Magazine article Screen International

Relativity Closes $350M Financing Deal

Magazine article Screen International

Relativity Closes $350M Financing Deal

Article excerpt

Relativity Media has closed a deal for $350m in debt financing that the company said will be used to fund planned expansion and future film projects.

Los Angeles billionaire and film investor Ron Burkle, a significant equity holder in Relativity, is an anchor investor in the deal through his relationship with Colbeck Capital, which advised on and structured the deal as well as being a participant.

Last year, Burkle reportedly loaned Relativity $200m through Colbeck to help fund the release of Immortals.

As part of the deal, Relativity, which is majority controlled by company CEO Ryan Kavanaugh (pictured), gets a new board including Burkle and Colbeck partners Jason Beckman and Jason Colodne.

Relativity said the deal includes "at least a dozen of the most reputable banks and institutional lenders in the industry." MESA Global advised on the capital raised.

In a statement, Kavanaugh said the deal "marks a significant step forward for Relativity and firmly positions us for exciting new endeavours. …

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