EXCLUSIVE… UPDATED: Sources are telling me that Ryan Kavanaugh’s Relativity Media suddenly is exiting this excellent piece of manpower in a decision made over the weekend. But Relativity Media insiders claim ”his deal was up and options were being weighed” and the company will be “promoting from within”. Steve Hutensky joined Relativity in June 2009 as SEVP and Head of Business Affairs. His departure closely follows Erika Hindle’s jump from EVP of Finance at Relativity Media to CFO of Media Rights Capital. And it follows these recent Relativity stories about turmoil between Relativity and its investor Elliott Associates over finances: Elliott Finally Reins In Ryan Kavanaugh: Moves Relativity Prez Michael Joe In-House; Ryan Goes Off The Rails!; Elliott Takes Back Kavanaugh’s Film Fund With Universal.
At Relativity, Hutensky oversaw all business and legal aspects of the company’s single picture business, including distribution, financing, co-productions, talent agreements and the management of films in production. Prior to joining Relativity, Hutensky worked as an independent producer based in New York City. From 1995 to 2004, Hutensky, a lawyer and former investment banker, worked as an executive at Miramax Films, serving as one of the principal advisers and top executives to Harvey Weinstein.
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Don’t know any of the details but as a rep who has dealt with Hutensky over the years I can say he is honorable, fair and a great lawyer and a great guy. I wish him well.
Someone who’s spent the most notable points of his career working for Harvey and Ryan is “honorable, fair”? Methinks not.
In a related note, I have shares in the Brooklyn Bridge that I’m sure you’ll be interested in.
I’ve worked with Steve and no one is more hardworking and he has surprisingly great people skills for a BA guy. I hope he lands somewhere great.
i’ve dealt with him a bit over the years. really smart guy, tough negotiator. always understood that money talks and bullsh*t walks. might call him the royale with cheese of business affairs executives.
Congrats to Steve for getting off the Titanic!
As we can totally trust Kavanaugh’s word I’m sure this is not another sign of the companies financial difficulties. In fact Ryan just sold me what he swears is the fastest magic carpet in the world and I can’t wait to get home and try it.
What Ryan and Relativity need are hedge fund backers that have the long view, and a new Relativity Studio owned slate of pictures that are guaranteed not to lose money (regardless of box office or ancillary performance). Impossible, We can protect protect any size hedge fund investment from loss in single picture or slate deals. Really ! We’ve offered the same structure to billion dollar banks and major U.S. media corporations since the 1970′s.
Having worked with Steve for years, I can say he is one of the few executives who can hold the whole equation of the picture business in his head.
He has been trained by the best and will land somewhere terrific when he’s ready. He is also a class act and an honorable man and I’m sure he has been at least somewhat troubled laboring inside the house of cards that is relativity.
Kavanaugh is a rich party boy getting his clock cleaned in hollywood now that he’s stepped up to the pros. You can pick hits or you can’t. It’s that simple. And the record shows he can’t.
And now he’s failed to retain a highly valuable member of his team.
Congrats on getting out of there, Steve.
Relativity must be a mess for Hindle to leave there for MRC… Then again, even though MRC only knows how to bleed cash and make bombs, at least they aren’t overtly corrupt.
Steve is one of the smartest BA execs in the business and a great guy. No doubt he will land somewhere much better.