Thursday, 21 August 2014
Last updated 3 hours 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?"
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note