Earlier this year struggling movie studio Relativity was thrown a lifeline when Kevin Spacey and his producing partner Dana Brunetti were announced as the new driving forces of the company. However, in a surprise turn of events Spacey has decided not to move forward with Relativity and revealed that Dana Brunetti will continue without him.

“It is with much thought and consideration and after many discussions with those I trust most that I have decided not to go through with accepting the role of Chairman at Relativity Studios. I can think of very few things more exciting to an actor than being given the opportunity to work with fellow actors, writers and directors with the ability to bring their creative works to light. That was, and still is, a very powerful idea for me.

However, as Relativity emerges from bankruptcy and now that I have a much deeper understanding of the specifics of the amount of work that will be needed to shepherd the company through this transition I have concluded it is work that I neither have the time nor the wherewithal to take on.

Equally, I do not want to deny Dana the chance to pursue this great opportunity to run a studio; and so while this is a difficult decision to have made, I am so happy and excited for Dana to be continuing on in his new role as President of Relativity Studios. Dana is a remarkable man, who has been a great partner and proved his abilities as a producer on many successful film and television projects.

Relativity is fortunate to be bringing him on board. While I am sad not to be joining them, I want to wish Dana, Ryan, Joe and all at Relativity the very best for a bright and sustained future.”

After a string of box office flops and poor investments, Relativity filed for Chapter 11 bankruptcy leaving numerous completed movies and in development projects in a state of limbo. Kevin Spacey spent more than a decade turning The Old Vic theatre back into a thriving hub for new and emerging talent. The prospect of Spacey calling the shots was enough in itself to cause a new found sense of optimism for Relativity to get back on track. 

While there is a logic behind Spacey’s decision, I have to admit to being disappointed that Frank Underwood is no longer going to be running a movie studio.