Apple reportedly paid $20 million for the 'The Banker,' its first major movie whose release is now in doubt

the banker movie

  • Apple bought "The Banker" for $20 million after watching an eight-minute sizzle reel, according to The New York Times.
  • The movie's release has been delayed after its real-life subject's son, Bernard Garrett Jr., was accused by his half sisters of molesting them when they were young.
  • The movie's filmmakers, cast members, and crew members issued a statement last week defending the movie, saying "we stand by the film, and its positive message of empowerment."
  • Visit Business Insider's homepage for more stories.

The release of Apple's first big movie, "The Banker," is in limbo - and now we have a sense of how much that might cost the company.

Apple bought the worldwide rights to the movie in June for "$20 million based on an eight-minute sizzle reel," The New York Times reported on Friday, citing two anonymous people close to the movie.Advertisement

"The Banker" is Apple's first major movie, but its release is in doubt as the company looks into sexual abuse allegations against Bernard Garrett Jr., the son of the movie's real-life subject, Bernard Garrett Sr. (who is played by Anthony Mackie). Apple abruptly canceled the movie's AFI Fest premiere last month and it did not come to theaters on Friday, its originally intended release date.

Apple did not immediately respond to a request for comment from Business Insider on the Times' report or on whether it intends to still release the movie.

Garrett Jr. was accused by by his half sisters of molesting them when they were young. Garrett Jr. issued a statement to Deadline last month denying the accusations, saying the alleged molestation "simply never happened." The Times also reported that the "Banker" filmmakers only met with Garrett Jr. once before shooting the movie.

Garrett Jr. was originally credited as a coproducer on "The Banker," though his name has been removed from the project. The movie's director, George Nolfi, told Deadline that Garrett Jr. requested that his credit be removed.

Nolfi, cast members including Mackie and Samuel L. Jackson, producers, writers, and crew members issued a statement defending the movie last week, saying "we stand by the film, and its positive message of empowerment."Signup Today: Free Daily Newsletter from Business Insider IntelligenceAdvertisement