The Matrix film producer files for bankruptcy

Village Roadshow blames its troubles on a fall-out with Warner Bros and a failed move into independent film production.

British Broadcasting CorporationWatch LiveHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingAudioPodcastsRadioAudio FAQsVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveWeatherNewslettersThe Matrix film producer files for bankruptcy1 day agoShareSaveJoão da SilvaBusiness reporter, BBC NewsShareSaveGetty ImagesFirm blamed its troubles on a fall-out with Warner Bros and a "failed and costly endeavour" into independent film productionVillage Roadshow Entertainment Group, the film production company behind franchises such as The Matrix, the Joker and Ocean's has filed for bankruptcy protection in the US, according to a filing with a Delaware court.

The 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 series.

In 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 Max.

https://www.bbc.com/news/articles/cvgwzp2jpneo

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