MUMBAI: In what can be called a shocker of a development, Ryan Kavanaugh’s Relativity Media, which filed for Chapter 11 bankruptcy last year, has now acquired Kevin Spacey and Dana Brunetti's entertainment production company Trigger Street Productions.
Effective mid-February, Spacey will become chairman of Relativity Studios, whereas Brunetti will become the company’s president. Together, they will oversee all creative content and film production for the company. Financial terms of the transaction were not disclosed.
“I am thrilled to welcome Kevin and Dana to Relativity. Kevin's incredible creative success as a two-time Academy Award winner and star and producer of the critically acclaimed House of Cards speaks for itself. Dana has remarkable instincts and an impressive track record of producing films such asFifty Shades of Grey and Captain Phillips. Both men share my passion for film and Relativity's unique 360 degree content engine, and I could not be more excited to partner with such talented professionals,” said Relativity chairman and CEO Ryan Kavanaugh.
“They thought we were crazy when we chose to do House of Cards with an online streaming service; they thought I was crazy when I went to run The Old Vic Theatre when no one thought it could be saved; and this move with Relativity will be proof for some that we really are crazy,” said Spacey. “This is an incredible opportunity to make great entertainment. I'm thrilled at this next evolution in my career, having run an independent production company to now be able to run a studio is a great challenge, and I've learned that in the end it's the risk takers that are rewarded.”
“While other studios are focusing on tentpoles and franchises, there is a void with an eager audience for films that are character driven with great storytelling that can be made at a reasonable budget,” added Brunetti. “Being a disruptor at heart, I look forward to the opportunities that being inside a studio system will present.”
Trigger Street Productions’ credits include Academy Award-nominated Captain Phillips, Academy Award-nominated and Golden Globe-winning The Social Network, and the Emmy nominated House of Cards, Bernard and Doris and Recount, as well as numerous other films including 21, Shrink,Fanboys and the stage production The Iceman Cometh.
