When you’re watching television in the Fairmont, Minnesota area, what do you usually think about? Are you focusing on the plotline and characters, the filming techniques, or perhaps something else entirely?
Though much of television drama happens onscreen, there is a fair portion that happens behind the scenes. There are actors and directors and writers, all with unique perspectives that help build the content that arrives onscreen. For one especially dramatic media company, the reality of bankruptcy has been written into their path to success, forcing them to rescript their financial structuring to remain afloat.
This recent off-screen television drama deals with the bankruptcy of Relativity Media, a case with hearings this week in New York, Delaware, and California. If you’re curious about this company‘s turbulent ride through Chapter 11 bankruptcy, here are a few interesting details to consider next time you turn on the tube:
What is Relativity Media? Relativity Media is a recently bankrupt media company with ties to the television shows Limitless, Catfish, and Kim of Queens, and movies such as The Fighter, Limitless, Safe Haven, and Act of Valor.
What Happens Next? As a result of their Chapter 11 bankruptcy filing, Relativity Media has been divided into TV and film divisions. The television portion of the business has already been sold, which will hopefully preserve some of Relativity’s content!
Who is their Leader? Prior to this bankruptcy filing, Ryan Kavanaugh was the CEO of Relativity Media. After a financial restructuring, however, there’s talk that Kevin Spacey will be the next commander of this multimedia company.
When will Relativity Media emerge from bankruptcy? The company will continue working on their bankruptcy hearing through the end of February. We’ll see what happens after that!
Relativity media is just as fallible as the rest of us in the Fairmont, MN area. Although we can attempt to protect ourselves from bankruptcy, there are certain incidents that we simply cannot anticipate.
If you have been surprised by a recent turn of financial events that may have you considering filing for bankruptcy, or have questions about your financial health, contact the professionals at Behm Law Group, Ltd. today!