31 Oct '16, 9pm

So @Relativity Media has another new investor -- Singapore-based YuuZoo social media. Huh?

So @Relativity Media has another new investor -- Singapore-based YuuZoo social media. Huh?

The latest investment designed to bail out Relativity Media appears to be a lot smaller than reported in an initial media account last week — amounting to a minority investment, starting at $27.5 million in cash, rather than an outright sale worth up to $250 million. Details of the anticipated investment by YuuZoo Corporation , a social media company based in Singapore, were revealed in a filing with the Singapore Stock Exchange. The six-page document shows that YuuZoo will receive a 33.3% stake in Beverly Hills-based Relativity in exchange for an investment of $50 million. The first $27.5 million of the payment is supposed to be made in cash, while the remaining $22.5 million can be paid in cash or YuuZoo shares, which are currently trading at about 17 cents. The document filed with Singapore authorities also describes the possibility of an additional $100 million investm...

Full article: http://variety.com/2016/film/news/relativity-yuuzoo-deal-...

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