Relativity Media has named five top executives it wants to pay cash incentives for remaining at the bankrupt studio — but CEO and Chairman Ryan Kavanaugh is not listed among them, court papers filed Monday night said.
On the eve of its second bankruptcy hearing on Tuesday, the studio listed a group of “key employees” crucial to both daily operation and the tumultuous sale process underway. They include President Tucker Tooley, Managing Director Carol Genis, Co-Chief Operating Officer Greg Shamo and Chief Financial Officer Andrew Matthews.
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Rounding out the list is Thomas Forman, CEO of the Relativity Television, whose retention is crucial since the TV division is the mini-major’s most profitable asset in the Chapter 11 filing.
Relativity confirms that it now counts 84 full-time employees among the film, TV and fashion divisions covered by the bankruptcy. The company once had as many as 350 full-time employees, including from enterprises in which the studio has a minority stake that are unaffected by the Chapter 11 filing: the sports management group, the for-profit Relativity Education and a joint film marketing and distribution entity with EuropaCorp.
Read the full story at The Wrap, By
Ryan Kavanaugh
