Two members of Relativity Media’s board who clashed with chief executive Ryan Kavanaugh were forced to resign on Wednesday in the wake of reports that the studio would not be able to meet a looming $200 million debt.
Colbeck Capital partners Jason Colodne and Jason Beckman resigned from their positions on Relativity Media’s board, a company spokesman told TheWrap.
“Ryan Kavanaugh remains fully in control of Relativity,” the company said in a statement.ย “Under Ryan’s leadership, Relativity has successfully recapitalized its balance sheet by refinancing its existing debt and raising additional capital in the form of debt and equity.