Ryan Kavanaugh Makes a Big Comeback.
In 2016, Relativity Media crashed and burned when Ryan Kavanaugh’s “new age” movie and TV company Relativity collapsed. His comeuppance was celebrated in many parts of Hollywood- even among those who had been critical of him before. Now, to the dismay of his old antagonists, Ryan Kavanaugh seems to be rising Phoenix-like from the ashes. He’s snapped up his fallen empire and recreated it under a different name.
In the wake of Relativity’s demise, Ryan Kavanaugh formed Aurora Global Holdings, Inc. The company has bought all the assets of Relativity Media and renamed it as New York-based LLC “Aurora Picture.” Already, the company has picked up the rights to distribute many of Relativity’s properties.
In addition to its acquisition of Relativity Media properties, Ryan Kavanaugh company has put a deal together with Bold Films — a Netflix-like consortium formed by NBC Universal chief Steve Burke in February this year — to distribute its titles on the streaming platform. Bold Films is one of several so-called mini-majors that have been formed by larger film studios in the US to better cash in on the growing popularity of streaming services like Netflix and Hulu.
Ryan Kavanaugh himself has been busy these days, meeting with movie studio chiefs and telling them that they should consider building their mini-major studios. It was attended by some of the most powerful people in Hollywood — including Warner Bros chief Kevin Tsujihara and Sony Pictures chief Tom Rothman.
It’s clear that Kavanaugh has adopted his old foe’s tactics and is trying to build a mini-major studio of his own. There’s no doubting that he is good when finding great content; so far, he has been pretty successful with “Mad Men” and “Boardwalk Empire” titles in his roster. But as always, there are risks involved; even Relativity Media risked failing if it hadn’t been able to launch movies big enough to offset its debts.