With the TV, film, sports and music production firm Relativity Media in bankruptcy and looking for a buyer, Relativity Studios President Tucker Tooley has stepped down, B&C reports. Tooley will leave the company following a 30-day transition period.
“Tooley joined Relativity Studios in 2007 and oversees its film division, which is part of Relativity Media,” the story reports. “He said he will focus on filmmaking and ‘the creative side of the business.’”
Relativity Studios is the company’s largest division, and “has produced, distributed or structured financing for more than 200 films,” B&C notes. Among its properties is the CBS drama “Limitless.”
General manager Ramon Wilson takes over the post on an interim basis.
Relativity CEO Ryan Kavanaugh said: “Tucker has been instrumental in building Relativity Studios and in the growth of our company. I am proud to call him one of my most trusted colleagues and friends. He has overseen and was the creative force behind some of the company’s biggest hit films. This is the beginning of a new chapter, and we expect to have a long-term relationship moving forward.”