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Village Roadshow Entertainment Group, the renowned film producer and financier that has backed “The Matrix,” “Ocean’s Eleven,” “Joker” and “The Lego Movie” franchises, has filed for bankruptcy protection in the U.S.
The company filed for Chapter 11 in Delaware on Monday, with $223.8 million in asset-backed secured notes and $163.1 million of senior secured debt, according to court documents. The news comes amid a long-drawn out and expensive legal battle with its long-standing partner Warner Bros. over “The Matrix Resurrections,” a 2021 sequel to the sci-fi series.
“The WB arbitration has caused the company to incur more than $18,000,000 in legal fees, nearly all of which remain unpaid, and presents the threat of a potential arbitration award that could flatten the company’s balance sheet, but that is not the full extent of its impact.”
The filing added: “Even if the WB arbitration is resolved, the company believes that it has irreparably decimated the working relationship between WB and the company, which has been the most lucrative nexus for the company’s historic success in the entertainment industry.”
The company has been exploring a sale since early 2024, after the leadership came to the conclusion that its liquidity crisis was becoming insurmountable, according to the court filing. At the time, the company employed 45 people. It has since trimmed its staff to 11, as it narrowed its focus to completing the sale process.
The bankruptcy filings state that a stalking horse bidder — identified as CP Ventura LLC — has agreed to pay $365 million for the company’s library. The purchase agreement identifies the buyer’s representatives as Steven Kram and Steven Blume, the co-founders of Content Partners LLC, an investment firm that acquires film and TV libraries.

‘Joker’ and ‘The Matrix’ Producer Village Roadshow Files for Chapter 11 Bankruptcy
Village Roadshow, producer and financier of The Matrix, Joker and Lego movie franchises, filed for bankruptcy protection amid a legal battle with WB.
