A U.S. Bankruptcy Court judge approved the sale of Relativity Media’s television assets on Tuesday.

The new owners are a group of hedge funds, including Anchorage Capital, Luxor Capital and Falcon Investment Advisors, who will pay $125 million for the TV operation, which includes CBS drama series “Limitless” and reality shows such as MTV’s “Catfish” and TLC’s “My Teen is Pregnant.”

The New York court must still decide whether to approve founder and Chief Executive Ryan Kavanaugh’s proposal to buy the rest of the bankrupt Beverly Hills entertainment company, which houses a film financing division, with a group of investors including supermarket magnate Ron Burkle.

Relativity was responsible for hit movies such as “The Fighter” and “Immortals,” but it also released several flops. It filed for Chapter 11 bankruptcy protection in July after failing to cope with its large debt load.