Open Road Sells To Raven Capital Management In Bankruptcy Proceeding

Raven Capital Management, which had offered a stalking horse bid of $87.5 million for Open Road last month, will take control of the company after no other bidders emerged in the company’s bankruptcy proceeding. The auction in Delaware bankruptcy court originally scheduled for November 7 has been canceled. The winning bid officially ends the ownership of the company by Donald Tang, whose Tang Media Partners acquired Open Road in 2017 and merged it with Stuart Ford’s sales…

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