Owed $37 Million, Carat USA Is Relativity Media’s Largest Unsecured Creditor

According to bankruptcy filing

Relativity Media's Chapter 11 bankruptcy petition, filed July 30, lists Carat USA as its biggest unsecured creditor, with the agency owed nearly $36.8 million.

The Dentsu Aegis network, which won Relativity's business in October 2010, is among 50 such creditors owed by the independent studio. Another finalist in the 2010 review, Palisades MediaGroup, is also among Relativity's 1,000 to 5,000 overall creditors. Both companies list the money owed as trade debt.

Relativity's liabilities are between $500,000 and $1 billion, and its assets are between $100 million and $500 million, according to the filing, with the company's movie and TV assets now expected to be auctioned off.

Earlier this year, Relativity said its Madvine unit signed three product-placement deals, cutting out the involvement of its ad agencies. The agreements would put brands like Evian and Oreo in Relativity's movies, TV and digital output as well as on the red carpet and in celebrity limousines.   

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