Relativity Media has made an offer of $525 million, plus another $500 million if targets are met, for Maker Studios. Disney has a deal to purchase Maker Studios for $500 million, plus an additional $400 million if targets are met. That deal is set to be voted on, April 15.
This news comes after ex-CEO Danny Zappin is suing to block the vote on the Disney deal. In a statement Relativity Media said, ““We both share a commitment to challenging the status quo, breaking down old models that don’t work and inventing new ones that do. We are confident the Maker Studios board and its shareholders will recognize the full value of the Relativity offer. Our offer also includes a substantial opportunity for Maker’s talent and employees to directly and significantly participate in the long-term growth of Relativity should the transaction be completed”
Disney and Maker Studios declined to comment on the news, but sources told the Wall Street Journal that the Disney deal is binding.