Bye-Bye, Billionaire: Ryan Kavanaugh’s Relativity Media Files For Bankruptcy

Ryan Kavanaugh and actor Kevin Costner at the after party for the premiere of Relativity’s ‘Black Or White,’ which grossed a disappointing $21.5 million. (Photo by Kevin Winter/Getty Images).

Ryan Kavanaugh is a billionaire no longer: Relativity Media, which made up the bulk of his net worth, filed for Chapter 11 bankruptcy today, according to a statement released moments ago. The company reportedlycouldn’t come up with the cash to pay off debts of at least $320 million.

Relativity says thefi...