Relativity Media, Sony in film financing deal

From Bloomberg News

Sony Pictures said Relativity Media would provide funds to co-finance the studio’s films over the next five years.

Relativity Media Holdings I will provide revolving credit to invest in “a majority” of films released by Sony’s Columbia Pictures studio. The agreement comes less than a week after Los Angeles-based Relativity Media, led by Ryan Kavanaugh, announced the creation of a film finance fund with money provided by Citigroup Inc. Relativity Media Holdings I is a subsidiary of Relativity Media, which has helped arrange more than $4.22 billion for film projects.

The parent company previously created two movie-finance funds for Sony valued at $750 million.