Hollywood is buzzing that Oracle billionaire Larry Ellison is taking the financial reins at his daughter Megan Ellison’s faltering film company, Annapurna Pictures.
An entertainment insider told Page Six this week: “The company has had financial issues and leadership issues. Larry is now taking on a day-to-day role to assess the state of the business on a financial level. She blew through $200 million, and he’d given them a lot of money through the years.”
The alleged move by Larry comes as Annapurna abruptly pulled the plug earlier this week on a high-profile Roger Ailes movie starring Nicole Kidman, Charlize Theron and Margot Robbie just weeks before filming was scheduled to start.
Another Hollywood source told us that Larry — a major GOP donor — did not want to back the Ailes project.
But a source close to Megan insisted that the reason the Ailes film was dropped was because “the budget just got too high.” (It was expected to cost about $35 million.)
The insider added of Larry’s involvement in the company: “Megan’s known for taking chances on edgy, smart movies, but she’s also a savvy businesswoman.”
The source said that tech giant Larry “provides strategic business counsel, but he’s done that for years.”
Suddenly struggling Annapurna has also reportedly dropped a Jennifer Lopez movie “The Hustlers at Scores,” which was acquired by STX.
Focus Features is reportedly now circling a deal to take over the Ailes film.
Reps for both Oracle and Annapurna did not comment.
Megan’s once-hot production company moved into distribution last year with the box office disappointment “Detroit.”
The company’s slate also includes “Vice,” starring Christian Bale as Dick Cheney, being released in December.
Variety reported that Larry is overseeing a “major reorganization” of 7-year-old Annapurna.
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