A Hollywood movie studio is in total meltdown after a string of expensive, left-wing propaganda films bombed at the box office, The Wrap reported.
The owner of Annapurna Pictures, billionaire heiress Megan Ellison, daughter of Oracle co-founder Larry Ellison, is scrambling to save her film studio after losing millions of dollars due to horrendous ticket sales.
Annapurna Pictures is in such dire fiscal condition that it has canceled production on two films reportedly starring “top marquee names,” The Wrap reported.
In an understatement, Ellison said she is “reevaluating” the studio’s operations.
“‘Detroit,’ a prestige 2017 project by Oscar-winning director Kathryn Bigelow, cost $40 million, but made only $16 million at the box office and lost the company tens of millions of dollars after a major marketing spend, according to two knowledgeable individuals,” The Wrap noted.
According to Daily Wire:
In the past 18 months, Annapurna has released a slate of hardcore leftist films that stoked racial divisions between black and white Americans, from Kathryn Bigelow’s “Detroit” to the Lakeith Stanfield vehicle “Sorry to Bother You.”
Most recently, “The Sisters Brothers,” starring John C. Reilly and Joaquin Phoenix, earned just $730,000 after the studio purchased the North American rights for $7.5 million.
Coming in December, Annapurna will be releasing the Christian Bale star vehicle “VICE,” another leftist propaganda film in which Bale plays former Vice President Dick Cheney opposite Sam Rockwell playing President Bush. The film is reported to have cost a “bloated $60 million to produce” when it should have cost only half that. Factor in marketing cost and the film hasn’t got a prayer.
“There is a financial issue going on,” a studio insider told The Wrap. “Her dad has put a lot of money into the company and I don’t think he wants to support her behavior and what’s been going on. There are restraints — the money is not flowing.”
Another insider criticized Ellison for favoring left-wing, political projects with no regard for marketability.
“She makes bad decisions,” the source said. “She wanted to chase all these expensive movies that weren’t going to make money, and she said, ‘I don’t care whether they make money.’ That’s not how you run a company.”
So, it appears as if a little rich girl thought that that she could ply her rich daddy to put out one left-wing bomb after another forever and he’d never turn off the spigot. Apparently she is being disabused of that notion as we speak.
Follow Warner Todd Huston on Twitter @warnerthuston.