Equity financing will fund 75 percent of studio’s film slate annually over the next five years
Relativity Media has secured $400 million in new equity financing for its film slate from Los Angeles-based Maple Leaf Films, the companies announced Wednesday.
Maple Leaf is headed by Tove Christensen and Michael Wexler, a division of Maple Leaf Capital Group that principally handles real estate and hedge funds. The investment will contribute 75 percent of funds for Relativity films chosen by the company’s new creative leader Dana Brunetti over the next five years, according to the studio.
“We are excited to have the support of Michael and Tove as we continue to identify, develop and produce groundbreaking films,” a Relativity spokesperson said. “And we very much look forward to the opportunity to work alongside Maple Leaf on future projects. We value their creative perspective and their investment in Relativity.”
“Tove and I believe in the leadership and vision of Ryan, Dana and the Relativity team, and are proud to partner with them as they forge a new path forward creating formidable films,” said Wexler.
The considerable figure comes on the heels of another $75 million in financing, all of it in the form of loans, revealed by documents filed in bankruptcy court last Saturday.
The company is due back in U.S. Bankruptcy Court on Friday, when it hopes to win approval to formally emerge from bankruptcy since filing for chapter 11 last July.