Village Roadshow Moves Forward With Bankruptcy “Open To All Bids”
deadline.comVillage Roadshow Entertainment hit Delaware court today after filing for Chapter 11 amid a sea of red ink, legal costs and debt that’s been ratcheting up financial pressure on the indie producer and financier.
A lawyer for the company told a judge at a hearing that the company is “open to all bids” for its primary asset, according Reuters, meaning a film library that throws off about $50 million a year in revenue.
The library is coming to market with a so-called stalking horse offer of $365 million from Content Partners. Attorney Justin Bernbrock said in court that his client’s longtime partner-turned-adversary Warner Bros.
could also bid for film rights, as per Reuters. Most of Village Roadshow’s prize films, including The Matrix and Ocean’s franchises, were co-produced with Warner.
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