Village Roadshow Entertainment has filed for Chapter 11 bankruptcy protection

Lady Gaga and Joaquin Phoenix in “Joker Folie à Deux,” which grossed only $58 million domestically. Village Roadshow Entertainment has filed for Chapter 11 bankruptcy protection, a dark turn for the once-prolific film financing company that backed the “Joker,” “The Matrix” and “Ocean’s Eleven” movie franchises. The West Hollywood company blamed its ongoing legal battle with longtime partner Warner Bros. for its collapse, according to a Monday filing in U.S. Bankruptcy Court in Delaware. Village Roadshow also conceded that its ambitious push into producing independent films and television programs before the pandemic was unprofitable, exacerbating its financial woes. The breach of contract lawsuit against Warner Bros. came after the studio introduced “The Matrix Resurrections” in December 2021 on its HBO Max streaming service the same day the film was released in movie theaters. Village Roadshow complained that the Burbank studio’s pivot away from an exclusive theatrical release had ... Read full article.