Larry Ellison’s son David has had a successful film venture when his Skydance Productions co-financed Coen brother’s hit "True Grit," but Ellison doesn’t plan to stop there, according to an article in the Los Angeles Times by Claudia Eller and Ben Fritz.
David Ellison, a 28-year old aerobatic pilot, aims to build what he calls a "media company 2.0" that will extend into television and new media after financing and producing four to six movies a year with Paramount, the story says.
While Ellison acknowledges that his father’s name has helped open doors in Hollywood, he notes, "I only ask that people keep an open mind and give me a shot. One thing this company will never be is just a checkbook."
According to the article, "Larry Ellison invested an undisclosed amount in the $150 million of equity that Skydance has raised, which was supplemented with a $200-million credit line arranged by JPMorgan Chase & Co. The money comes at an opportune time for Paramount, which has lost several movie partners in the last few years, including DreamWorks Studios, Marvel Entertainment and Spyglass Entertainment."
Despite the success of "True Grit, " David Ellison has made missteps already, the article notes, pointing out that his World War I drama "Flyboys", in which he acted, was a box-0ffice flop and lost millions for its investors.
Furthermore, David Ellison has dropped acting after his plans for a movie he wrote called "Northern Lights" fell apart, after actor Taylor Lautner dropped out of the project after he learned that Ellison planned to co-star, the story notes.