Megan Ellison Todd Williamson/Getty Images Megan Ellison’s production banner Annapurna is reducing its head count by 30 staffers.
“The reduction reflects business conditions. Annapurna is an independent entertainment and media company operating in shifting market conditions, and is realigning to meet the changing landscape,” a spokesperson stated.
Of late, the banner has backed projects including Olivia Wilde’s drama The Invite and Boots Riley’s I Love Boosters on the feature side while forging ahead on interactive entertainment like music-themed Mixtape, survival horror title The Lost Wild and Silent Hill entry Townfall.
Megan Ellison, the daughter of Oracle mogul Larry Ellison (current net worth: around $200 billion), is the sibling of David Ellison, Paramount’s CEO and would-be owner of the merged Paramount-Warner Bros. Discovery empire.
Megan had founded Annapurna in 2011 with a focus on the type of prestige dramas (think: Spike Jonze’s Her and David O. Russell’s American Hustle) that played well during fall festival season, and became the toast of the town in the mid-2010s thanks to the mogul’s largesse and willingness to back riskier, auteur-driven bets.
More to come.
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