Ryan Kavanaugh has acquired a large stake in the movie streaming service Row8 through his production outfit Proxima Media, TheWrap has learned. As part of the deal, the companies have collaborated on a new joint venture, Proxima 8.
The terms of the deal are not known but the deal aims to give Proxima big savings on marketing and distribution of its films.
Proxima 8 plans to create interactive movies experiences that among other things will offer behind-the-scenes looks at productions, chances to participate in productions or premieres, and virtual interactions with stars and directors.
Subscription-free Row8 offers rentals of new and back catalog films via distribution deals with the major studios. The service allows customers to cancel rentals within the first 30 minutes of watching and exchange for another title, and offers “scene alert,” which alerts parents to potentially inappropriate scenes before they display.
Kavanaugh has produced or financed more than 200 feature films generating billions in box office revenue, among them “300,” “The Fast and The Furious,” “The Girl With The Dragon Tattoo,” “Mama Mia!,” “Limitless,” “The Fighter,” “Talladega Nights” and “Stepbrothers,” and was a key figure in the establishment of Marvel Studios.
He is also the co-founder of Triller, and launched the digital pay per view series Fight Club in partnership with Snoop Dogg. Proxima Media most recently launched “The Quad,” a sub-label in partnership with Life Boat Productions.
Kavanaugh’s Proxima Media most recently launched “The Quad,” a sub-label in partnership with Life Boat Productions, and recently completed production on the TikTok-influenced slasher-thriller “Skill House,” starring social media influencer Bryce Hall and Curtis “50 Cent” Jackson. Upcoming Proxima projects include the King Bach action-thriller “Myles Ryder,” “Home School” and “Sway House.” Kavanaugh is also a credited producer on the upcoming films “Hunter Killer,” “Strangers 2,” and “Den Of Thieves.
The deal comes 5 years after the end of Kavanaugh’s previous company, Relativity, which filed for Chapter 11 bankruptcy for a second time in May 2018 — at the time it was estimated the company had somewhere between $500 million and $1 billion in debt accumulated over just 2 years.
At TheWrap’s TheGrill 2019, Kavanaugh said that the company didn’t go bankrupt because of that debt, but because it put Relativity in a position to be taken over by the hedge fund that oversaw the studio’s potential initial public offering.