NEW YORK (TheStreet) -- Relativity Media, the struggling studio behind films including "Masterminds," with Zach Galifianakis and Kristen Wiig, is reportedly attracting the interest of billionaires Carl Icahn and Carlos Slim.
Relativity Media filed for Chapter 11 bankruptcy, as it owes firms such as hedge fund Anchorage Capital, Falcon Investments and Luxor more than $320 million. Now, Icahn and Slim, who is the chairman and chief executive officer of telecommunications companies Telmex and America Movil (AMX) - Get Report, are said to be prospective buyers, according to a report by the New York Post.
Slim is already a backer of television company Ora TV, which features shows including "Larry King Now" and "Off the Grid With Jesse Ventura." Slim is considered one of the wealthiest people in the world, with a net worth estimated at $71.2 billion as of March 2015. Icahn has had an interest in the media and entertainment space in the past and sought to buyLions Gate Entertainment (LGF) in 2010.
Relativity Media this week let go more than 75 people as it seeks to cut costs, according to sources cited by the Post, which also said Metro-Goldwyn-Mayer, the Hollywood studio behind the James Bond franchise, could be another prospective buyer for the troubled company.
Relativity Media was founded by Ryan Kavanaugh, who also serves as the company's CEO. The studio says under Kavanaugh, it has produced, distributed or structured financing for more than 200 movies generating more than $17 billion in worldwide box-office revenue and earning 60 Academy Award nominations. Relativity Media productions include the likes of "Limitless," starring Bradley Cooper, David O'Russell's "The Fighter" and David Fincher's "The Social Network," which received eight Oscar nominations.