Published On: Tue, Aug 25th, 2015

Ryan Kavanaugh Not Among Key Relativity Execs Incentivized to Stay

Studio to pay almost $314, 000 to keep Tucker Tooley, Thomas Forman and others

Ryan Kavanaugh

 

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.

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 Matt Donnelly

 

Ryan Kavanaugh

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