Relativity Media Lands Modest $9.5 Million Loan in First Bankruptcy Hearing

U.S. Bankruptcy Court Judge Michael Wiles granted Relativity Media a modest $9.5 million debtor-in-possesion loan on Friday, in the first hearing since the studio filed for Chapter 11 on Thursday.

CEO Ryan Kavanaugh entered proceedings with designs on a $45 million loan to cover operational costs like payroll as his embattled company struggles to reorganize its finances. Judge Wiles only approved the smaller amount, with $4 million allocated to pay “critical vendors” related to current...

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