Relativity Television will go to a group of creditors, with Ryan Kavanaugh’s consortium set to take the rest of Relativity Media.
The sale of Relativity Media’s TV division to a group of secured creditors for $125m has been approved by a US bankruptcy court.
The approval gets Relativity founder Ryan Kavanaugh and a consortium of investors closer to completing their plan to buy the rest of the mini-studio. That deal is scheduled to close later this month, with a reorganisation plan expected to be presented in December or January.
The TV division, whose more than 400 shows include Catfish, Act of Valor and new feature spin-off Limitless, goes to a group including Cortland Capital, Anchorage Capital, Luxor Capital and Falcon Investment Advisors, which plans to rename and relaunch the unit.