MUMBAI: Eric Schmidt's TomorrowVentures, LLC is planning to invest in Relativity Media.
Separately, TomorrowVentures managing partner Court Coursey has been appointed chief investment & strategy officer of Relativity Media, effective immediately, to develop and execute Relativity's ongoing vision as a next-generation global media company. Coursey will continue his position at TomorrowVentures.
Coursey, a veteran business executive, entrepreneur and venture capitalist, will report directly to Relativity Media chairman and CEO Ryan Kavanaugh and will work to pursue and drive new business opportunities and partnerships across Relativity's content businesses, including film, television, sports, digital and music.
Kavanaugh said, “Court is a proven business leader and entrepreneur with deep knowledge of the forces shaping media, technology and entertainment. I'm thrilled to welcome him to Relativity as we prepare for the next chapter in our evolution as a 360-degree content engine.”
Coursey added, “Relativity and Ryan have pioneered a powerful new model at a time when the content business is being revolutionized by technology and changing consumer behavior. I look forward to helping Relativity continue to pursue its vision for a new kind of media and content company.”
TomorrowVentures is a diversified venture capital firm and has a portfolio of over 100 direct investments and in excess of 1,500 indirect investments through its general partner and limited partner stakes.
TomorrowVentures' other media investments have included, among others, Legendary Pictures, Maker Studios, and Raine.
Relativity Studios recently announced 2016 release dates for the following films: The Disappointments Room, Before I Wake, Kidnap, Masterminds and Strangers 2. In addition, the studio is scheduled to begin production on The Crow in March of this year.
In another development, Relativity Media has also appointed Kenneth Halsband as chief operating officer. Halsband is currently Relativity Studios president of physical and post production at Relativity Studios and the post will be in addition to his current responsibilities.
