Hollywood-based Village Roadshow Entertainment Group (VREG) has filed for Chapter 11 bankruptcy. It is the holding company of Village Roadshow Pictures and Village Roadshow Television, and its majority owner is private equity company Vine Alternative Investments. Australian exhibitor, studio and distributor Village Roadshow has a minority stake.
Over the past 28 years, VREG has produced over 100 films, including titles of The Matrix, Ocean, and Joker franchises. VREG worked with Warner Bros. on production, financing and ownership of 89 of those titles and has been involved in ongoing legal battles with the studio since the 2021 release of The Matrix Resurrections, which premiered on HBO Max the same day of its theatrical release. The prolonged breach of contract lawsuit is a major contributor to the bankruptcy filing.
VREG is looking to sell its film library for $365 million, while the company’s liabilities are in the $500 million-$1 billion range.
The Melbourne, Australia-based Village Roadshow Limited is not impacted by the U.S.-based VREG bankruptcy filing and has plans to terminate its association with the company.
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