In the wake of a “bankruptcy brawl” last fall, the television division of Relativity Media that was acquired in October by the company’s major creditors has emerged as Critical Content, Variety reports. “Critical CEO Tom Forman and president Andrew Marcus have spent the past three months re-engineering operations after the detachment from Relativity,” the story reports. “The process has been greased by a $75 million equity influx from the new owners, led by Anchorage Capital. Although Anchorage is a major investor in MGM, there are no plans to meld Critical with the Lion’s television operations.”
Much of the focus for the near future is on scripted series development, the report notes. “In the past few weeks, the company has set up a drama prospect at Epix with Cary Fukunaga attached to produce and direct, as well as separate development projects with directors Oliver Stone and Nick Cassavetes, and producer Mike Medavoy,” Variety reports.
Critical is also reportedly stepping up its unscripted series business, including inking deals with reality TV producers such as George Verschoor, Gunnar Wetterberg and Alex Demyanenko.