Relativity Media Extends Furlough; Down to Handful of Employees, Sources Say

6 hours ago | Variety - Film News | See recent Variety - Film News news »

Relativity Media’s fade out continued this week, as the bulk of the company’s employees were told that an unpaid furlough that began over the two-week winter holiday will continue indefinitely, according to two people familiar with the operation.

Only a handful of workers remain at the entertainment firm that had already pared its staff to less than 30, those sources said. Relativity once aspired to be a “360-degree global media platform” that could compete with Hollywood’s big studios.

The news comes in the wake of other signs of Relativity’s decline, eight months after its bankruptcy reorganization; CEO Ryan Kavanaugh and President Dana Brunetti signaled just before the holidays that they would step down from daily duties. And, this week, the company laid off roughly 40 workers who staffed its joint distribution operation with EuropaCorp.

There is wide speculation in Hollywood that Relativity will cease operating either by liquidating »

- James Rainey

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