According to a filing with a Delaware court, Village Roadshow Entertainment Group, the film production business behind popular franchises like The Matrix, the Joker, and Ocean’s, has filed for bankruptcy protection in the United States.
A legal dispute with its former partner Warner Bros. (WB) and a “failed and costly endeavour” into producing independent films and television shows have been cited by the company as the reasons for its financial difficulties.
Village Roadshow is offering to sell its vast film collection for $365 million (£281 million) in an effort to alleviate some of its financial issues.
According to court filings, the company’s debts are believed to be between $500 million and $1 billion.
