TomorrowVentures will invest in Relativity Media LLC. Court Coursey was also named Chief Investment & Strategy Officer, effective immediately, of Relativity. Coursey will remain Managing Partner of TomorrowVentures. Relativity Media, of Beverly Hills, California, is engaged in content production and the distribution of movies, television, sports, digital and music. It’s also the parent of Relativity Studios
BEVERLY HILLS, Calif., Jan. 15, 2016 /PRNewswire/ — Relativity Media LLC (“Relativity”) today announced that Eric Schmidt’sTomorrowVentures, LLC (“TomorrowVentures”) will make an investment in Relativity. TomorrowVentures’ other media investments have included, among others, Legendary Pictures, Maker Studios, and Raine. Separately, Court Coursey has been appointed Chief Investment & Strategy Officer, effective immediately, to develop and execute Relativity’s ongoing vision as a next-generation global media company. Coursey will remain Managing Partner of TomorrowVentures, overseeing its current portfolio and future investments.
Mr. Coursey, a veteran business executive, entrepreneur and venture capitalist, will report directly to Chairman and CEO Ryan Kavanaugh and will work to pursue and drive new business opportunities and partnerships across Relativity’s content businesses, including film, television, sports, digital and music.
Kavanaugh said, “Court is a proven business leader and entrepreneur with deep knowledge of the forces shaping media, technology and entertainment. I’m thrilled to welcome him to Relativity as we prepare for the next chapter in our evolution as a 360-degree content engine.”
Coursey said, “Relativity and Ryan have pioneered a powerful new model at a time when the content business is being revolutionized by technology and changing consumer behavior. I look forward to helping Relativity continue to pursue its vision for a new kind of media and content company.”
TomorrowVentures is a diversified venture capital firm and has a portfolio of over 100 direct investments and in excess of 1,500 indirect investments through its general partner and limited partner stakes. TomorrowVentures’ current and previous non-media portfolio includes investments in Forbes Travel Guide, Prosper Marketplace, Lowercase Capital (seed investor in Uber), Sharecare, Lyfe Kitchen, and 500 Startups.
Relativity Studios recently announced 2016 release dates for the following films: The Disappointments Room, Before I Wake, Kidnap, Masterminds and Strangers 2. In addition, the studio is scheduled to begin production on The Crow in March of this year.
Relativity (relativitymedia.com) is a next-generation global media company engaged in multiple aspects of content production and distribution, including movies, television, sports, digital and music. More than just a collection of entertainment-related businesses, Relativity is a content engine with the ability to leverage each of these business units, independently and together, to create content across all mediums, giving consumers what they want, when they want it.
Relativity Studios, the Company’s largest division, has produced, distributed or structured financing for more than 200 motion pictures, generating more than $17 billion in worldwide box-office revenue and earning 60 Oscar nominations. Relativity’s films include Oculus, Safe Haven, Act of Valor, Immortals, Limitless, and The Fighter.