For months, industry insiders have been growing increasingly concerned about what appeared to be a cash-flow issue at independent studio Sonar Entertainment. Multiple sources report that Sonar has …
For months, industry insiders have been growing increasingly concerned about what appeared to be a cash-flow issue at independent studioMultiple sources report that Sonar has been late on payments for writers on scripts and to talent agencies for packaging fees. The slowdown in the payment schedule has raised questions about Sonar’s ability to continue funding shows. The company has also seen a number of executive departures in recent months. A new CEO was appointed in August.
David Ellender, who was promoted to Sonar CEO in August, would not comment on specific financial matters but denied that there were larger issues threatening Sonar’s ability to move forward on new projects. “We’re able to finance productions and we’re well-capitalized not just through Catalyst but also through our other financial facilities that we’ve set up…We’re looking forward to producing or executive producing projects going forward.
A source at another production banner that had a first-look deal with Sonar said that one reason they left is the fact that the company seemed to be dealing with significant financial constraints. The source noted that it was no secret that Sonar has been “desperately” looking for a buyer. Other shows produced by Sonar to date are AMC’s adaptation of the novel “The Son,” and the MTV/Spike series “The Shannara Chronicles” among others. “Taboo” debuted to solid reviews in 2017 and was subsequently renewed, but there has been no word since about when the next season will air. “The Son” aired two poorly-reviewed seasons on Saturday nights on AMC, while “Shannara” aired one season on MTV before being shuttled to Spike TV for season two before being canceled.
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