Ryan Kavanaugh

Ryan Kavanaugh (born 1974) is an American businessman, film producer and film financier. He is the founder and former CEO of Relativity Media, founder and principal of Proxima Media, founder of TrillerVerz, founder of Relativity Real (later renamed Critical Content), and founder of Rogue Sports (currently known as IEG Sports).

Ryan Kavanaugh
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Native name	Ryan Kavanaugh
Born
💼 Occupation
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Early Life

Kavanaugh was born to a Jewish family in Los Angeles, California, where he was raised in the Brentwood neighborhood and attended Brentwood High School.   His mother is a real estate broker and his father is a dentist turned businessman, born in Germany. His father, Jack Kavanaugh, is a DDS, MBA, M.D, ophthalmological surgeon, and founder of Zeta RX, which was acquired and became the core of Juno Therapeutics. Juno Therapeutics ultimately went on to become the largest biotech IPO of 2014 and was later purchased by Celgene as part of a $9 billion deal.   From a young age, Kavanaugh had been influenced by his father’s entrepreneurial bent. He also had a knack for working numbers.

Career

RELATIVITY MEDIA

Kavanaugh started his career at the stock brokerage firm Dean Witter Reynolds in the late 1990’s. At 22-years old, Kavanaugh launched KC Capital, a small venture capital firm, where he raised $500 million and primarily invested in new media companies. KC Capital struggled in the aftermath of the September 11 attacks and with the burst of the Internet bubble, the fund crashed.  Kavanaugh founded Relativity Media in 2004. It emerged amid a shift in Hollywood from studio equity and picture-specific bank loans towards slate financing, where outside investors backed several films.

At Relativity Media, he created a monte carlo model designed to predict the odds of a given film being successful.  During Relativity’s first year, Kavanaugh initiated the $525 million deal between Merrill Lynch and Marvel Entertainment which allowed the independent company to finance its own movies based on its comic book catalogue. It was an innovative finance deal for Marvel and led them to create the Marvel Cinematic Universe and Marvel Studios.

Kavanaugh went on to structure business deals for companies such as Warner Brothers, Universal, Sony, and Lionsgate. In 2005, Kavanaugh brokered a $528 million fund called Virtual Studios, a partnership between Warner Brothers and Stark Investments to co-finance six movies. In 2006, Kavanaugh structured a fund backed by Deutsche Bank called Gun Hill Road I that raised $600 million to finance 17 films across two separate studios, Sony and Universal including “The Pursuit of Happyness” and “Nanny McPhee.” The three partnered again in the same year and raised $700 million for Gun Hill II to finance an additional 19 films through the end of 2007, including “Evan Almighty” and “I Now Pronounce You Chuck and Larry.”

In 2008, Relativity Media secured a $1 billion investment from Elliot Associates and extended its agreement with Universal to co-finance about 75% of its film slate through 2015.  The next year, Relativity signed a deal with Lionsgate in which the movie studio acquired US distribution rights for up to five Relativity productions per year. Lionsgate was suffering the effects of the economic crisis and partnering with Relativity allowed them to keep their pipeline flowing.

Relativity purchased Overture films from Starz Media in July 2010 allowing it to become a full-fledged studio by instantly adding marketing and distribution systems and expertise to its own development, productions, and film financing activities.

In July 2010, Kavanaugh cut an innovative five-year-plus content deal with Netflix for the digital streamer to have first access to its movies outside of the DVD window, in place of traditional pay TV deals.

One of Relativity’s biggest strengths was an extensive international business. It put most of its titles through an unprecedented number of output deals covering almost the entire globe, dealing directly with smaller foreign independent distributors, thereby reducing film risk. Most American-based companies with thriving international divisions, such as Lionsgate, would sell their films individually but there was a greater degree of security from having ongoing output deals. By becoming a pioneer in what was a volatile world of domestic distribution, Kavanaugh was able give Relativity its own domestic distribution operation.

Under Kavanaugh’s leadership, Relativity built a powerhouse television company, RelativityReal. Kavanaugh architected the model of using films to create television shows like "Catfish" and "Limitless".  2010 was a big year for the company, with the success of “Catfish,” the MTV adaptation of the 2010 documentary.  Relativity’s TV business was sold in 2015 for $125 million to a group of lenders, including Anchorage Capital Group, and later renamed Critical Content.

In July 2012, Kavanaugh launched Relativity Sports, known today as Independent Sports & Entertainment, to represent athletes, coaches, and broadcasters. Relativity already owned a basketball agency, Rogue Sports, with more than 150 clients across baseball, basketball, football, coaching and broadcasting. The new company combined Rogue Sports with Maximum Sports Management (football) and SFX Baseball. In a statement to The Hollywood Reporter, Kavanaugh said, “This alliance offers athletes turnkey access to a true merger of sports and entertainment. In addition to their careers in professional sports, we can offer athletes opportunities in film, television, music and gaming.”  Under Kavanaugh’s leadership, Relativity Sports grew to become the 3rd most valuable sports agency with approximately $3.2 billion in active contracts in 2015.

In 2014, Kavanaugh founded Madvine, an in-house agency that managed the entire marketing campaign of brands like Evian and Mondelez, while also integrating corporate clients into Relativity’s film, TV, digital, music, sports, and fashion businesses.

In July 2015, Relativity Media filed for Chapter 11 bankruptcy.  Shortly thereafter, Kavanaugh and partner Joe Nicholas purchased back the company.  In August 2018, Kavanaugh sold Relativity to UltraV Holdings but remained a consultant with an incentive package that includes 10% equity stake in any value above $150 million.  Today, Relativity continues to be a mini-major studio.

PROXIMA MEDIA/TRILLER

Kavanaugh founded entertainment investment firm Proxima Media in 2017. In October 2019, Kavanaugh’s Proxima Media invested $28 million in Triller, the AI-powered music video platform, a TikTok rival. Triller’s one-of-a-kind music licensing partnerships with top studios, including Warner Music Group, Sony Music Entertainment, and Universal, allow users to access an extensive catalog of music to create and share content across multiple social platforms, without having to navigate licensing fees. This innovative platform brings together artists, consumers, labels, and license holders to encourage large-scale consumption and monetization for all parties. Snoop Dogg, Lil Wayne, Tyga, and The Weeknd are just a few notable investors in the company.

In November 2020, Kavanaugh launched Triller Fight Club, with the record-breaking Tyson-Roy Jones Jr pay-per-view event becoming the 8th highest grossing PPV event with more than 1.6 million pay-per-view buys. In April 2021, Triller Fight Club hosted the Jake Paul vs Ben Askren fight with performances by Justin Bieber, Back Keys, Doja Cat, and Mt Westmore.  In March 2021, Kavanaugh’s Triller acquired Timbaland and Swizz Beatz’s music platform Verzuz. Under this deal both artists became shareholders in Triller’s parent company, Triller Network.

Verzuz has become one of the most successful and influential livestreaming programs born out of the pandemic. The series’ episodes have featured prominent producers, songwriters and recording artists including Snoop Dogg, DMX, Benny Blanco, and Gucci Mane to name a few.

As co-founder, Kavanaugh has spearheaded the acquisition of various applications, including the original Triller music discovery app, and merging them together. Triller will go public through a reverse merger with SeaChange International Inc, a video advertising technology company, in a deal that will value the combined entity at around $5 billion. The combined company will be named TrillerVerz. The company stated that it believes “it is positioned to become a leading AI-powered social media platform for content, creators & commerce” and that it “will create a leading voice on the Web3.0 movement and embrace the power of decentralized systems to enable greater participation in the multi-hundred-billion-dollar creator company.” Triller’s CEO, Mahi De Silva stated, “We believe TrillerVerz is becoming the voice of youth culture, a brand that sits at the nexus of content, creator, commerce, and culture in the digital world,” and “Our strategy is to continue to build the world’s largest stage for creators to distribute and monetize viral and engaging content with experiences that elevate culture.”

Other Ventures

TECH AND BIOTECH

Kavanaugh formed Knight Global, a family foundation and investment arm which has focused on building and investing in numerous companies. In 2008, Kavanaugh was a seed investor in ZetaRX, a pharmaceutical company acquired in 2013 by Juno Therapeutics. ZetaRX was founded by Kavanaugh’s father, Jack Kavanaugh, who brought in collaborations including City of Hope and the Fred Hutchinson Cancer Research Center. Juno is a clinical-stage immune-oncology company whose main product is a therapy that uses a patient’s own T-cells to develop cancer treatments specific to them; considered to be the largest breakthrough of its time in Cancer. Juno went public in December 2014, the largest biotech IPO of the year and reached a market cap of $5.5 billion. It later sold to Celgene for $9 billion.

Kavanaugh was a founder of Precash, one of the first companies to enable currency transactions, in 1999. Precash, later renamed Noventis, later sold to WEX, a leading provider of payment processing and business solutions across a wide spectrum of sectors, including fleet, travel, and healthcare.

DOG FOR DOG

Kavanaugh founded a dog food company that gives back to shelter pups called Dog For Dog. Snoop Dogg and Michael Buble are investors in the company. The company donates one bag of dog food to an animal shelter for each bag of food purchased. Dog For Dog prides itself on using all-natural ingredients such as peanuts and flaxseed and steers clear of sugar, salt, and hydrogenated oils.

Philanthropy

Kavanaugh is an active participant in charities and an avid philanthropist who has raised and donated to various non-profit organizations. These organizations include Sheriff’s Youth Foundation, Habitat for Humanity, Best Buddies, Jewish Big Brothers and Big Sisters, City of Hope. In 2010, Kavanaugh was recognized by Cedars-Sinai Medical Center as the winner of the Board of Governors’ Hollywood Humanitarian Award.

In 2011, The Anti-Defamation League honored Kavanaugh with the Distinguished Entertainment Industry Award. Kavanaugh told The Hollywood Reporter, “The Anti-Defamation League is so important to furthering a greater world consciousness and respect among races, faiths, and cultures. On a personal level, ADL’s mission is particularly special to me as it honors my grandparents’ legacy and Jewish heritage.” The award is given to individuals based on leadership and innovations in the entertainment industry on a local, national, and international level.

In 2014, Kavanaugh was the recipient of the 2014 Tom Sherak Stars Award, presented by The Fulfillment Fund, a non-profit organization that helps Los Angeles youth overcome obstacles to receive a college education.  Kavanaugh served as Chairman of the Board for The Art of Elysium, an organization that pairs volunteer artists from the entertainment community with communities in Los Angeles, to help support medically fragile children, teens, and adults in times of illness and crisis.  In a statement to The Hollywood Reporter, founder Jennifer Howell praised Kavanaugh claiming him the “largest individual donor” and said, “Additionally, Relativity Media has been our largest sponsor and has sponsored more events and initiatives for The Art of Elysium than any other company. To say that I am grateful for his support, is a gross understatement. Since 2009, Ryan and Relativity have given us the resources and support to grow in ways that we would have otherwise been unable.”

In addition to helping people and his communities, Kavanaugh is passionate about helping animals in need. In 2013 he acquired FreeHand, a pet food company committed to using its proceeds to save the lives of homeless dogs by matching each pound of dog food sold in a donation of food to a local animal shelter or rescue organization.

Awards and Recognition

In 2009, Kavanaugh was honored with the Hollywood Producer of the Year Awards at the 13th Annual Hollywood Awards Gala. That same year, he was honored by Variety in a lengthy magazine edition featuring him on the cover with the words “Billion Dollar Producer.”

In 2010, The Hollywood Reporter honored him with the Leadership Award.  In 2011, Kavanaugh was named Variety’s Showman of the Year.

In 2010, Kavanaugh was #22 on the Fortune 40 under 40 list.  In 2013, Forbes pronounced Kavanaugh a Billionaire with a net worth of $1 billion.

Personal Life

In 2011, Kavanaugh married ballet dancer Britta Lazenga. The couple threw a destination wedding on the Italian island of Capri where they exchanged vows in front of pals Ryan Seacrest, Leonardo DiCaprio and Bradley Cooper.  In 2015, he married model Jessica Roffey with a star-studded wedding in a private ceremony near Malibu. Ryan Seacrest, Edward Norton, Katie Holmes, Pierce Brosnan, and Zoe Saldana were just a few of the celebrities that attended the affair. After a private beach ceremony for their families, the couple held a private party with friends at Nobu Malibu. Guests were serenaded by Steven Tyler, who played a full set.

Kavanaugh is a member of the Wilshire Boulevard Temple.  His two favored leisurely pursuits are to fly helicopters and ride horses.

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