A US judge on Tuesday approved a bid for the 417.5m “stalking horse” from Alcon Entertainment. Village Roadshow Entertainment Group (VREG) filed for bankruptcy last month.
The Delaware Bankruptcy Court states that the amount is the lowest of assets, which includes a 108 feature list. matrix Franchise and Jokerand exceeds the $365 million offer expressed by Content Partners. It is said that libraries produce 50 beans a year.
Stakeholders must file a rival bid until May 16th, and the court will preside over the auction four days later if there are multiple bidders. This may include Warner Bros., where VREG is responsible for the 92 functions.
Warner Bros. ownership of these films ranges from 15% to 50%, and if you win the auction, you own the entire film. The studio retains all distribution rights.
Vreg’s bankruptcy filing is the latest episode on a list of struggles since the pandemic. Continuing arbitration with Warner Bros. after suing the studio for breach of contract for release in February 2022 The Matrix Revival At the same time, in the film, it was hatched by former Warner Bros owner WarnerMedia during Covid, at the same time on HBO Max.
In December, the Writer Guild of America issued a suspension order to VREG amid late payments to the writers, and CEO Steve Mosco left in January this year.
VREG is separate from the Australia-based Village Roadshow Group, founded in 1954, and includes the village roadshow theme park, roadshow distributor, roadshow production, village roadshow studios and village cinemas.
Since 2017, Village Roadshow Group has no strategic, operational management, administrative oversight or financial responsibility for VREG and owns less than 3% of VREG.
(TagStoTranslate)Finance (T)US (T)Warner Bros.
