Bloomberg News

Billionaire Burkle Acquires Equity Stake in Relativity Media

January 24, 2012

Jan. 23 (Bloomberg) -- Billionaire Ron Burkle acquired an equity stake in Relativity Media LLC, the independent film and television studio led by Ryan Kavanaugh.

The purchase follows a debt investment Burkle made in the company last year, according to an e-mailed statement today from Relativity and Yucaipa.

Burkle agreed to buy Elliott Management Corp.’s minority stake in Relativity, two people with knowledge of the situation said on Jan. 6. Elliott, a New York-based hedge fund, will continue to hold a small stake, said one of the people.

To contact the editor responsible for this story: Rob Golum at rgolum@bloomberg.net


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