Report: Annapurna Interactive parent company wipes $200 million in debt

The future of Florence, Gorogoa, and Donut County publisher Annapurna Interactive looks secure after parent company Annapurna Pictures settled over $200 million in debt. 

At the start of August it was reported that Annapurna Pictures was flirting with bankruptcy after losing cash on a series of movie releases and scrapped projects, which in turn cast the future of its games division Annapurna Interactive into doubt. 

Now, however, insiders "close to the matter" have told Variety the studio has agreed a deal that will see participants in the company's revolving credit facility receive roughly $0.82 on the dollar to wipe its debt. 

To avoid a repeat scenario, Annapurna Pictures will apparently now look to finance projects on a case-by-case basis, and will not seek a new line of credit.