Thursday, 5 March 2015
Last updated 1 hour ago
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?"
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…