Relativity Media LLC is expected to miss a previously scheduled $30 million payment to its lenders yesterday, raising doubts about the company's ability to stay afloat just months after emerging from bankruptcy, Dow Jones Newswires reported today. Relativity's plan to exit chapter 11 called for founder and chief executive Ryan Kavanaugh to have raised $50 million in new equity by yesterday, enough to pay off at least $30 million Relativity owes to a group of hedge funds that bought the Hollywood studio's more-lucrative TV unit in October. However, Kavanaugh has yet to raise the new funding and has sought an extension of the $30 million payment. The funds will likely give Kavanaugh more time to come up with the cash, according to sources.
