Saturday, 27 December 2014
Last updated 3 days 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?"
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.