Relativity Media Completes Post-Emergence Financing

Relativity Media Completes Post-Emergence Financing

BEVERLY HILLS, Calif., Jan. 25, 2016 /PRNewswire/ -- Relativity Media LLC ("Relativity") today announced it has successfully completed new financing commitments in anticipation of its emergence from chapter 11 in February.

The new financing, totaling in excess of $100 million, includes more than $100 million in additional commitments from current investors including Macquarie Bank; Mr. Joseph Nicholas and Mr. Ryan Kavanaugh. Mr. Carey Metz, chief investment officer of Atorus Investment Management LLC; and new investors such as TomorrowVentures and Carat Global as well as VII Peaks Capital. The new financing is separate from the approximately $180 million in Relativity senior debt acquired by Mr. Kavanaugh and Mr. Nicholas during the course of the company's chapter 11 process, however it is anticipated that this debt will be converted pursuant to the plan of reorganization.

This financing is in addition to the post emergence ultimates facility, an asset backed facility being syndicated by GHL & Company and Aperture Media Partners.

In addition, since Carat Global has agreed to extent credit to Relativity for its P&A capital, Relativity's debt need is much less than expected.

"With the total financing commitments now successfully in place, we remain focused on emerging from chapter 11 and moving forward with our robust slate of films and our continued evolution as a 360 degree content engine," said Mr. Kavanaugh.

Mr. Kavanaugh and Mr. Nicholas, will be co-managers of Relativity's parent company, Relativity Holdings, with a robust management and finance team to oversee the 360 vertical from film and television to branding, sports, digital and Relativity Education. Earlier this month, Relativity announced that it acquired Trigger Street Productions, the entertainment production company owned and operated by Kevin Spacey and Dana Brunetti. At Relativity, Mr. Spacey will become Chairman of Relativity Studios and Mr. Brunetti will become President of Relativity Studios where they will oversee all film and television operations.

Relativity Studios is the largest privately held, independent film studio with several movies scheduled to release this year including The Disappointments Room, Before I Wake, Kidnap, Masterminds and Strangers 2. The studio has produced, distributed or structured financing for more than 200 motion pictures, generating more than $17 billion in worldwide box-office revenue and earning 60 Oscar nominations. Relativity Studios' films include Immortals, Limitless, The Fighter, Act of Valor and Safe Haven.

The company's scripted television division is behind CBS's newest hit show, "Limitless," based on the film released by Relativity Studios in 2011 which grossed more than $160 million worldwide, and Relativity Digital Studios released its first feature-length film, Summer Forever, in 2015 and is set to release two additional films in the Summer Forever franchise later this year.

About Relativity

Relativity (relativitymedia.com) is a next-generation global media company engaged in multiple aspects of content production and distribution, including movies, scripted television, sports, digital and music. More than just a collection of entertainment-related businesses, Relativity is a content engine with the ability to leverage each of these business units, independently and together, to create content across all mediums, giving consumers what they want, when they want it.

Media Contacts:

David Shane
Relativity
(310) 724-7738
david.shane@relativitymedia.com

Justin Dini
(917) 216-7629
jdini@brunswickgroup.com

Bill Launder
(212) 333-3810
blaunder@brunswickgroup.com



SOURCE Relativity Media LLC

Relativity Media LLC

Web Site: http://relativitymedia.com


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