Village Roadshow's $417.5 Million Stalking Horse Deal Approved
Village Roadshow Entertainment Group, the bankrupt production house behind The Matrix trilogy, won court approval to sell the rights to its film library to Alcon Media Group for $417.5 million, a deal that's still subject to better offers at a potential auction next month.
Judge Thomas M. Horan approved the bankrupt company's stalking horse deal with Alcon, which will set a price for Village Roadshow's film library, according to a filing Tuesday. Alcon bested an earlier offer from Los Angeles-based investment firm Content Partners, though Content could still bid on the film library.
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