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Relativity lenders to pay $125 million for its TV business

Relativity lenders to pay $125 million for its TV business

Senior lenders to Relativity Media have agreed to pay $125 million for the troubled studio's television business, according to court documents filed Saturday. The deal could leave the remaining Relativity assets -- including the film unit -- in the hands of its founder and chief executive Ryan Kavanaugh. 

The group of lenders -- composed of Anchorage Capital Group, Luxor Capital Group and Falcon Investment Advisors -- had previously submitted a starting bid of $250 million for all of Relativity. According to the Saturday filing, that was amended to an offer to purchase only the TV business. 

The filing comes after an auction this week failed to produce bids...

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