The sale of Relativity Media LLC’s television unit closed on Tuesday, freeing its leaders from the “distraction” of bankruptcy, the Wall Street Journal reported yesterday. Tom Forman, chief executive of Relativity Television, said that the studio behind MTV’s “Catfish” and other shows is poised for “supercharged” growth now that it has been spun off from bankrupt Relativity Media via a sale to a group of hedge funds. Relativity Media filed for chapter 11 protection in July on the heels of a string of box office flops and a mounting debt load that had reached $1.2 billion. But the TV studio was widely considered the most attractive of Relativity’s assets when, after filing for bankruptcy, the company announced it was putting itself on the auction block.
