Masterminds, starring Owen Wilson, Zach Galifianakis, Kristen Wiig and Jason Sudekis, was originally set to hit theaters in August. The opening date was pushed to October. Then the movie was put on indefinite hold while Relativity worked out its financial issues.
Bloomberg.com reported recently that Relativity Media’s founder may have found a way to have Masterminds and other frozen films freed up:
Ryan Kavanaugh is holding on. The Relativity Media LLC founder and chief executive officer has found a way to keep control of his bankrupt movie studio and possibly allow stalled films including “Masterminds,” “The Disappointments Room” and “The Crow” to make their way into theaters.
Relativity went before a Manhattan bankruptcy judge Monday to seek approval of a plan that will help its TV unit exit bankruptcy as early as Oct. 20 through a sale to a group of hedge funds, while Kavanaugh keeps the rest of the company, which will have just $30 million in debt.