The Matrix film producer files for bankruptcy

According to the submission of the Delaware Court, Village RoadShow Entertainment Group, a franchise filmmaker such as Matrix, Ocean and Joker, has applied for bankruptcy protection in the United States.

The company has accused the financial problem of legal battles with former partner Warner Bros (WB), and “failed and expensive efforts” for the production of independent films and television series.

To alleviate some of the financial problems, Village Roadshow offers a wide range of film libraries for $ 335 million (£ 280 million).

According to the court document, the company’s debt is estimated from $ 500 million to $ 1 billion.

Village Roadshow and WB have produced and co -owned dozens of films for many years, but after the release of the latest Matrix Resurrections in early 2022, their relationship disappeared after being released on the streaming platform HBO MAX.

Village Roadshow insisted that WB closed the right of all sequels and first parts of the film.

KEITH MAIB’s chief restructuring officer said, “The WB mediation has made more than $ 18 million for more than $ 18 million for more than $ 18 million in legal costs, and almost everything remains unpaid.”

According to MAIB, the legal battles ended the “most advantageous Nexus” for the historical success of the village road show, saying that the two companies were “abnormally destroyed.”

Another problem faced by Village Roadshow was a high -cost studio business that started in 2018. As part of this effort, either film or television series did not benefit.

Like other American film companies, the Village Road Show also struggled with the demand for fashion soldiers and the interference between the strikes of Hollywood actors and writers, which began in May 2023.

In December, the author’s Guild of America banned collaboration with the village road show for allegations that they did not pay the company’s contributions.