31 Oct '16, 9pm

YuuZoo Who? Meet Relat

YuuZoo Who? Meet Relat

A source says the company that specializes in social media, e-commerce and entertainment is paying some $50 million for a one-third stake in Ryan Kavanaugh's struggling studio with an option to buy more. In announcing that Singapore web giant YuuZoo has bought a 33 percent stake in Relativity Media, a bizarrely worded press release proclaimed: "Some market observers have already compared the Relativity-YuuZoo deal to the recently announced acquisition of Time Warner by AT&T." Well, not quite. The investment in Ryan Kavanaugh's embattled studio may have caught as many industry watchers by surprise as the epic proposed $85.4 billion Time Warner sale. After all, Relativity has been hanging by a thread since it emerged from bankruptcy in April. YuuZoo, which is publicly traded on the Singapore Stock Exchange, isn't disclosing the price tag. But a source says the company that s...

Full article: http://www.hollywoodreporter.com/news/yuuzoo-who-meet-rel...

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