The story around Relativity Studios’ reboot of The Crow, which I originally wrote about here, continues albeit in a fashion that I had not anticipated.
I mentioned originally that among the many issues that the remake was facing was whether or not Relativity would be able to refinance it’s debt in time.
If not the studio could be broken up, and its projects auctioned off to the highest bidder (and that’s almost a ‘best-case’ scenario if they’re unable to get refinancing).
As a workaround, as opposed to selling any rights outright, Relativity is instead trying to enter into a deal with STX Entertainment, which would take over production and domestic distribution, leaving Relativity with foreign rights (that’s an interesting idea, though considering how popular superhero movies are worldwide, foreign distribution will probably be more profitable than domestic) to two of their upcoming features, The Crow and Hunter Killer.
According to Variety, they received an extension on the repayment of the $150 million due to creditors, and selling domestic rights to–so far–two of their upcoming productions would help bridge that gap.
The article also states that Relativity has no intention of selling either project outright, but it doesn’t seem to me that they have too strong a hand.
More as it comes available…