By Ryan Williams
A recent report from Variety revealed that Relativity Studios, a company known for critically acclaimed films such as Haywire and Oculus, filed for bankruptcy and is now set to be sold at auction on October 1st. Forced to accommodate a financial crisis, the studio has removed three films from the scheduled release date roster. These films include The Disappointments Room, The Bronze, and Before I Wake, all of which no longer have official dates of release.
The issue boils down to Relativity not being able to afford promotion for its films. In the past, the studio has taken loans from RKA Financing and other financiers that it has yet to pay back. These loans amount to an estimated $75 million–money which the studio has allegedly used to keep itself running in its time of crisis.
The studio’s downfall has negatively affected its most previous films and their filmmakers more than anything else. With The Disappointments Room being removed from the schedule, I Am Number Four director D.J. Caruso’s return to feature film has been indefinitely deferred. The Bronze and Before I Wake will not be released when they were originally intended, which could be an obstacle for their box office successes.
Only time will tell how these movies will fare and what the future holds for the once successful Relativity Studios.