Ron Burkle acquires Relativity stake

BurkleSupermarket billionaire Ron Burkle is nearly the 2nd-greatest investor in Relativity Media, according to sources with understanding in the deal.Burkle has made the decision to spend almost all Elliott Management's stake within the organization, reported by Bloomberg News. But Elliott isn't totally in the picture, according to an informed source, along with a couple of from the Burkle money might help fund Relativity's methods.Burkle's investment, while undisclosed, is mentioned to remain in the hundreds of vast amounts.Reps for Relativity and Elliott Management declined comment. A repetition for Burkle could not immediately be showed up at for comment.Relativity has existed discussions to enhance new gold gold coin for many days. Last summer season, Relativity began discussions with JP Morgan Chase & Co. to help raising funds to buy out Elliott's share, but people talks postponed.Burkle already has ties to Relativity, getting developed a substantial loan towards the organization in November. Burkle, who made lots of his conserve the supermarket business, makes forays into Hollywood before. He backed Harvey and Bob Weinstein in their bid to buy Miramax from Disney this season. The indie shingle eventually visited a consortium of traders introduced by construction magnate Ron Tutor and Colony Capital.Elliott has backed Relativity-arranged financing deals both new the new sony and Universal. Friction mounted between Relativity and U, however, when the two began well dating similar "Snow White-colored" projects. Contact Rachel Abrams at Rachel.Abrams@variety.com