Annapurna settles debt, Variety says

Annapurna logo

Annapurna Pictures has settled $200 million in debt, Variety reported.

Lenders who participated in a credit line will receive 82 cents for every dollar owed, the entertainment news outlet said, citing sources it didn’t identify.

The deal was reached “in the past few days” and an announcement may be made soon, Variety said. The $200 million credit line won’t be replaced, according to Variety.

Annapurna and Metro-Goldwyn-Mayer co-own United Artists Releasing. That entity releases Annapurna and MGM films in the U.S., including next year’s No Time to Die James Bond film. Universal will handle international distribution of the 25th Bond movie made by Eon Productions.

The founder of Annapurna is Megan Ellison. Her father, Oracle co-founder Larry Ellison, conducted the negotiations with lenders.

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