Studio Buyout Of Elliott Stalls

Nov 14 2011 | 11:47am ET

Relativity Media isn't rid of Elliott Management just yet.

The Hollywood film studio has been looking to buy out its erstwhile hedge fund backer for the entire second half of the year. But talks with a consortium of investors. led by JPMorgan Chase, have stalled just in time for Relativity's biggest moment: the release of its Immortals.

Elliott, for its part, has said it is not interested in selling its 49% stake in Relativity; the hedge fund has invested more than $1 billion in the studio. But Relativity reportedly has an option to buy Elliott out.

Some sources close to the talks say they are still ongoing, Variety reports.

"Don't count out [Relativity chief Ryan] Kavanaugh," one financial source told Variety. "He's been very successful in raising money in the past. Logic would say that JPMorgan wouldn't want to fund it at this point—but when has logic ever prevailed in the film business?"


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note