CEO Kavanaugh: Relativity Media to exceed $2 billion in revenue this year; profit up 4-5 times

CEO: Relativity Media to exceed $2B in revenue

LOS ANGELES — Privately held film financier Relativity Media will bring in more than $2 billion in revenue this year. The news comes as major movie studios continue to slash costs and produce fewer movies.

Relativity CEO Ryan Kavanaugh made the revenue total public Tuesday at a conference hosted by media and entertainment news website TheWrap.

Kavanaugh says the company’s adjusted earnings will be four to five times greater than in 2009. He said that Relativity was narrowly profitable for the first time last year.

The CEO also said in an interview later that Relativity has been preparing for a possible public offering of stock, although he said there was no rush.

Relativity is backed by private equity investor Elliott Management.