Latest news with #VillageRoadshowEntertainmentGroup
Bloomberg
14-05-2025
- Business
- Bloomberg
Village Roadshow, Warner Bros. to Delay Fight Over ‘Matrix' Debt
The two movie studios behind The Matrix films are putting off fighting over as much as $100 million in unpaid debt related to the movies until after an auction for the film library of bankrupt filmmaker Village Roadshow Entertainment Group. Lawyers for Village Roadshow and its former movie-making partner, Warner Bros. Entertainment Inc., agreed that the auction can move forward before the two sides further dispute debt leftover from the last Matrix film.
Bloomberg
22-04-2025
- Business
- Bloomberg
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.
BBC News
18-03-2025
- Entertainment
- BBC News
The Matrix film producer files for bankruptcy
Village Roadshow Entertainment Group, the film production company behind franchises such as The Matrix, Ocean's and the Joker, has filed for bankruptcy protection in the US, according to a filing with a Delaware firm has blamed its financial troubles on a legal battle with its former partner Warner Bros (WB) and a "failed and costly endeavour" into the production of independent films and television a bid to mitigate some of its financial problems, Village Roadshow is proposing to sell its extensive film library for $365m (£281m).The company's debts are estimated to be between $500m and $1bn, according to the court documents. Village RoadShow and WB produced and co-owned dozens of films over the years but their relationship soured in early 2022 after the release of the latest Matrix film - The Matrix Resurrections - on the streaming platform HBO Roadshow alleged WB had shut it out of its rights to any sequels and prequels of the films the two companies had previously worked on together."The WB arbitration has caused the company to incur more than $18m in legal fees, nearly all of which remain unpaid", chief restructuring officer Keith Maib said in a court legal battle, according to Mr Maib, has "irreparably decimated the working relationship" between the two companies, ultimately ending "the most lucrative nexus" for Village Roadshow's historic other issue faced by Village Roadshow was a costly studio business launched in 2018. None of the films or television series independently produced as part of that endeavour delivered any other film companies in the US, Village Roadshow also struggled with a slump in demand from the pandemic and the disruption from the strike action by Hollywood actors and writers, which started in May December, the Writers Guild of America banned its members from working with Village Roadshow over the company's alleged failure to pay its contributors.
Bloomberg
17-03-2025
- Business
- Bloomberg
Matrix Saga Maker Files for Bankruptcy Amid Warner Lawsuit
The film production house behind The Matrix and Ocean's sagas filed for bankruptcy in the US amid a long-drawn legal battle with Warner Bros Discovery Inc. Village Roadshow Entertainment Group sought bankruptcy protection in Delaware on Monday with $223.8 million in asset-backed secured notes and $163.1 million of senior secured debt, according to court documents.
