Village Roadshow Entertainment Group, the film originater and financier that has backed “The Matrix,” “Ocean’s Eleven,” “Joker” and “The Lego Movie” franchises, has filed for bankruptcy protection in the U.S.
The company filed for Chapter 11 in Delconscious on Monday, with $223.8 million in asset-backed protectedd notices and $163.1 million of better protectedd debt, according to court records. The novels comes amid a lengthy-drawn out and pricey lhorrible battle with its lengthy-standing partner Warner Bros. over “The Matrix Resurrections.”
Village Roadshow had sued for fracture of shrink after WB freed the feature on Max the same day as theaters.
“The company historicassociate enhappinessed a prolific co-production, co-financing and co-ownership relationship with WB, which included the production, ownership and derivative rights flotriumphg from 89 titles – including the ‘Matrix’ franchise – and compascfinishd the immense transport inantity of the Debtors’ business,” the records filed on Monday read.
“The WB arbitration has caemployd the company to incur more than $18,000,000 in lhorrible fees, proximately all of which remain unphelp, and conshort-terms the danger of a potential arbitration award that could flatten the company’s equilibrium sheet, but that is not the filled extent of its impact. Even if the WB arbitration is resolved, the company consents that it has irreparably decimated the laboring relationship between WB and the company, which has been the most lucrative nexus for the company’s historic success in the amemployment industry.”
Like many film production entities, Village Roadshow — based in both the U.S. and Australia — had struggled with both the slump from the pandemic and the Hollywood originaters’ strike, which postpodemand film productions. However, it’s fluidity problems derived mostly hugely from its arbitration with Warner.
Village Roadshow was set uped in 1997 and has originated and freed over 100 films, also including “Mad Max: Fury Road,” “Ready Player One” and “Wonka.” In 2017 it selderly a administerling interest to Falcon Strategic Partners and Vine Media Opportunities.
