Relativity has announced that the upcoming bank robbery comedy Masterminds will be pushed back from a summer release to a fall release, according to The Hollywood Reporter. Masterminds, which stars Kristen Wiig and Zach Galifianakis and was directed by Jared Hess, has been postponed from August 19 to October 9 due to a bunch of boring money reasons.
Relativity is in the midst of recapitalization and is finalizing a deal with Catalyst Capital Group, a Toronto-based private equity investment firm that is acquiring 100 percent of Relativity’s senior secured debt. Catalyst will have an undisclosed equity stake in the company and also gain a seat on its board of directors. Current CEO and chairman of the board for Relativity, Ryan Kavanaugh, will retain control of his company. Relativity is in the process of restructuring the studio, and to keep a long story as short as possible, Masterminds is a casualty.
In a statement issued by the company, Relativity said it is postponing Masterminds’s release “to allow the company to focus on its recapitalization and give this film the proper attention and support it deserves.”