好莱坞电影公司相对论申请破产保护

参与制作电影《社交网络》、《斗士》和《赎罪》等作品的相对论传媒（Relativity）是一家美国的独立电影公司，总部位于加州洛杉矶县的西好莱坞。公司参与制作、发行了超过200部影片。有37部电影登上北美票房榜冠军，58部电影的全球票房超过1亿美圆。总计获得过60个奥斯卡奖提名。近期由于债台高筑，经营不善，不得不申请破产保护。

测试中可能遇到的词汇和知识：

bankruptcy 破产

liability 债务

collapse 崩溃

helipad 直升机停机坪

retail 零售

阅读即将开始，建议您计算一下阅读整篇文章所用时间，并对照下方给出的参考值来估算您的阅读速度。

Hollywood film-maker Relativity files for bankruptcy（449words）

By Matthew Garrahan in New York

Relativity Media,the Los Angeles-based entertainment group,has filed for bankruptcy protection after missing payments to lenders and running up as much as $1bn in liabilities.The filing is the biggest Hollywood bankruptcy since the collapse of Metro-Goldwyn-Mayer four years ago. MGM emerged from bankruptcy with its debt holders in control of the company: its largest shareholder,Anchorage Capital,is the lead debt holder of Relativity Media.

The company will be auctioned off,with Blackstone and FTI Consulting running a process that will be overseen by the bankruptcy court. Relativity has received a commitment of $45m debtor-in-possession financing — funds which will keep it operating during the sale.Relativity,which released films such as Act of Valor and Immortals,was started by Ryan Kavanaugh,a colourful character who once earned the ire of neighbours by landing his helicopter on the rooftop emergency helipad of a nearby building.

Mr Kavanaugh raised hundreds of millions of dollars to invest in movie studio production slates. He initially earned millions of dollars in fees from the performance of those slates,and later expanded into production and distribution with backing from Elliott Associates,the New York hedge fund run by Paul Singer.

However relations with Elliott quickly soured. Ron Burkle,the retail billionaire — and a close friend of Bill Clinton — stepped in,backing the company. Relativity had scored with Limitless,starring Bradley Cooper,but failed to repeat the success,releasing a string of movies that underperformed.

Expansion into new lines of business,such as athlete representation,education and branding proved to be a further drain on the company's resources. In recent months it has lurched from crisis to crisis,seeking emergency financing deals in a bid to stay afloat.

Mr Kavanaugh is expected to stay with the company through the bankruptcy process. Relativity,which is cutting 75 jobs,is being represented in its bankruptcy filing by Sheppard Mullin,the law firm. The filing,in the Southern District of New York,reveals that the company has up to $1bn of liabilities.

“The actions we are announcing today will protect our valuable franchise and allow us to emerge as a stronger,more focused company,” Mr Kavanaugh said in a statement.

Mr Kavanaugh has been on the receiving end of a lawsuit filed recently by RKA Film Financing,a film promotion group,which accused the company of misusing funds. In its legal filing it called Mr Kavanaugh a “conman” who “through dishonesty and deceit,operated a scheme to defraud investors and convert and misappropriate their funds”.

Relativity fired back with a $200m countersuit,claiming that RKA was seeking to exploit its efforts to refinance the company.

1.Why did Relativity Media file for bankruptcy protection?

A.Making bad investments

B.Missing payments to lenders

C.Stock prices declining

D.Investor withdrawls

[1] 答案

2.Which of the following is mentioned as the biggest Hollywood bankruptcy?

A.MGM

B.Relativity

C.Paramount Pictures

D.Twentieth Century Fox

[2] 答案

3.What is the purpose of giving Relativity a commitment of $45m debtor-in-possession financing?

A.Paying off the company's debts

B.Helping Relativity make new investment

C.Covering the expenses of lawsuit

D.Keeping the company operating during the sale

[3] 答案

4.What did RKA Film Financing accuse Mr Kavanaugh of?

A.Doing illegal business

B.Appropriating public funds

C.Misusing funds

D.Stealing trade secret

[4] 答案

[1]答案：B.Missing payments to lenders

解释：文章第一段提到相对论公司之所以申请破产保护是因为该公司目前债台高筑，且无能力偿还借方。

[2]答案：A.MGM

解释：文章第二段提到相对论破产是继四年前米高梅破产之后好莱坞最大的破产事件。

[3]答案：D.Keeping the company operating during the sale

解释：文章第三段提到该笔资金用于维持Relativity在破产清算等一系列手续过程中的运转。

[4]答案：C.Misusing funds

解释：文章倒数第二段提到RKA Film Financing因Mr Kavanaugh不当使用资金而将之告上法庭。