Megan Ellison Saves Iconic L.A. Video Store

A gift from Megan Ellison has saved Vidiots, a legendary video rental store that was about to go out of business.

The bisexual producer stepped in to save the L.A. institution after the co-owners announced this week that the store would be closing in April after financial difficulties, reports the Los Angles Times. A donation was also received from Leonard M. Lipman, M.D., a longtime customer.

"This all this just happened and we are beyond thrilled," co-owner Cathy Tauber says. "We will not be closing. We will be around for hopefully a long time."

The amount of Ellison's contribution was not disclosed, though Tauber says the Hollywood power player will be partnering with Vidiots to make it "a new, exciting, sustainable place with an independent mind-set."

In its over 30 years of operation, Vidiots has established itself as a favorite of many in the entertainment industry, who cherished the video store's collection of over 50,000 films as well as its status as a watering hole for film buffs.

Elina Shatkin, a writer at L.A. Weekly, recently advocated for the importance of having a brick-and-mortar video institution in an article titled, "I Went to UCLA, But My Real Film School Was Vidiots."

"Contrary to what people say, not everything is available on Netflix or the Internet," Shatkin wrote. "And while we have all the online recommendations and referrals we could ever want, what's missing are the places where fellow travelers can meet, randomly and irregularly, but in person, to compare notes."

Ellison, who is the daughter of tech billionaire Larry Ellison, is the head of Annapurna Pictures, a production company that has made acclaimed films like Her, Zero Dark Thirty, and Foxcatacher. The 29-year-old producer was also honored in The Advocate's 40 Under 40 in 2014.

While Ellison has not made a public statement directly addressing her role in saving Vidiots, she did post a revealing Tweet Thursday, which included a photo of the store along with the caption, "Be kind rewind."

Image source: Twitter