According to multiple sources, Annapurna has burned through much of the $350 million credit facility the company secured in fall 2017 on movies they don't advertise or distribute properly.
Banks expected Larry Ellison, the 4th richest person in North America, to bail out his daughter and her studio. If he doesn't, Annapurna Studios will file for Ch. 11 in either Delaware or California.
Imagine having invested in Sinemia, MoviePass, and Annapurna in the past year....🤡