Megan Ellison fends off Annapurna Pictures bankruptcy 'rumblings' as the company struggles [Los Angeles Times (CA)]
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Source: Los Angeles Times
Annapurna Pictures founder Megan Ellison on Wednesday fended off “rumblings” that her film studio is teetering on the edge of bankruptcy, as the company tries to renegotiate its deals with lenders. The West Hollywood firm behind movies including “Booksmart” and “Vice” is in talks with banks to restructure its debt after struggling for years to produce commercial hits in the challenging independent film business. Ellison, the daughter of billionaire Oracle Corp. founder Larry Ellison, has developed a reputation for making quality films, including last year’s “If Beale Street Could Talk” and “Sorry to Bother You,” but has recently faced speculation that her company is running out of money because of a string of box-office disappointments . In a memo to staff, Ellison sought to quell concerns about the company’s financial health, in response to a looming Deadline article that said the company was exploring a bankruptcy filing. If the current talks with banks fall apart, the company may n
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