BEVERLY HILLS, Calif. and NEW YORK, Feb. 2, 2016 /PRNewswire/ -- Relativity Media LLC ("Relativity") today announced the United States Bankruptcy Court for the Southern District of New York (the "Court") has approved the Company's plan of reorganization (the "Plan") clearing the way for Relativity to emerge from Chapter 11 in short order. In confirming the Plan, Judge Michael Wiles found that the Plan as described satisfied the various requirements of the U.S. Bankruptcy Code and said the Court will entertain an order confirming the Plan, with required modifications, following a hearing held today.
"Today we achieved an important milestone in Relativity's path to emerging from chapter 11 as a stronger, well-capitalized media company that is well positioned for growth and success," said Ryan Kavanaugh, Chairman and CEO, Relativity. "We sincerely appreciate the support of our financial partners and creditors, as well as the unrelenting dedication of our employees, which together have allowed us to successfully complete this process. We have a phenomenal management team in place, and we can't wait to create Relativity's new future."
Additional information related to Relativity's chapter 11 filing are available on a dedicated website administered by the Company's claims agent, Donlin Recano & Company, at www.donlinrecano.com/relativity.
SOURCE Relativity Media LLC