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YuuZoo to invest US$50m-150m for stake in US entertainment group Relativity
YUUZOO Corporation Limited is planning to invest between US$50 million and US$150 million for a 33.3 per cent stake in an American independent movie studio and entertainment group.
In an announcement on Sunday night, the group said that it will be issued class A preferred shares in Relativity Holdings LLC, and given all of the company's film, television, sport, fashion and music asset for distribution on its YuuZoo platform on standard commercial terms.
Relativity, incorporated in 2008 in Delaware, develops, produces, finances and distributes feature films and television programmes.
The company's largest division Relativity Studios has produced, distributed or structured financing for over 200 movies, generating more than US$17 billion in worldwide box office revenue, according to YuuZoo.
The group added that the proposed investment is in line with its strategy to add high-quality media content for distribution through its social e-commerce platform and for online and mobile payments to be made using its payment system.