Oracle founder Larry Ellison is stepping in to oversee a re-organization of Annapurna Pictures, the film production company run by his daughter Megan Ellison, according to this report from Variety. Annapurna has had a string of films that fell flat at the box office in recent years, which has led to hundreds of millions of dollars in losses. But Mr. Ellison reportedly plans to continue funding the company.
Mr. Ellison—number 10 on Bloomberg’s list of the world’s richest people—can afford almost anything, but it is a delicate time for him to be distracted from Oracle. There are growing questions on Wall Street about the health of the company’s cloud business, and Mr. Ellison reportedly clashed with Thomas Kurian, an Oracle executive who departed earlier this month, over the strategic direction of Oracle’s cloud business.