Megan Ellison‘s Annapurna Pictures has dropped out as a co-financier of “Terminator: Genesis,” though the budding movie mogul will retain an executive producer credit on the latest entry in the blockbuster sci-fi franchise, multiple individuals familiar with the project has told TheWrap.
David Ellison and his Skydance Productions are sticking with “Terminator” and will now finance two-thirds of the budget, with distributor Paramount picking up the rest of the tab.
While Megan Ellison‘s decision to spend $20 million on “Terminator” movie rights made sense when they became available, the picture never fit into Annapurna’s mandate. The company’s exit makes sense given Annapurna’s reputation for making critically acclaimed indie movies such as “Zero Dark Thirty” and “The Master.” The company is also behind this year’s Best Picture nominees “American Hustle” and “Her.”
Skydance, on the other hand, has made its name backing big-budget event pictures such as “Star Trek,” “World War Z” and “Mission Impossible: Ghost Protocol.”
Alan Taylor (“Thor: The Dark World”) is directing “Terminator: Genesis,” which will star Jason Clarke and Emilia Clarke as John and Sarah Connor. Arnold Schwarzenegger will also reprise his star-making role.
Paramount will release the movie on July 1, 2015.
Deadline broke the news of Annapurna’s exit.