Spacefed film products files for bankruptcy

The Filage Roadshow Entertainment Group, a film production company, has advanced behind privileges like Matrix, Ocean’s and The Joker, to protect bankruptcy in the United States, according to the submission of a file with the Dilayer Court.

The company blamed its financial problems in a legal battle with its former partner, Warner Bruce (WB) and “a failed and costly endeavor” in the production of independent films and TV series.

In an attempt to alleviate some of its financial problems, Village Roadshow suggests the sale of a wide film library for $ 365 million (281 million pounds).

The company’s debts are estimated at $ 500 million and $ 1 billion, according to court documents.

The village of Roadshow and WB produced dozens of films over the years, but its relationship was strained in early 2022 after the latest Matrix – The Matrix Resepers – on the HBO MAX broadcast platform.

Village Roadshow claimed that WB has closed her rights in any sequence and prequels for films in which the two companies previously worked.

“The arbitration of WB caused the company to incur more than $ 18 million as legal fees, which is still not paid.”

This legal battle, according to Mr. Mayb, “destroys an irreplaceable work relationship” between the two companies, as it eventually ended the “most profitable bond” of the success of the historic Roadshow village.

The other issue facing Village Roadshow was an expensive studio company launched in 2018. None of the films or TV series independently achieved as part of this endeavor any profits.

Like other film companies in the United States, Roadshow has struggled with a decline in demand from the epidemic and turmoil from the strike by Hollywood actors and writers, which started in May 2023.

In December, the American Writers Syndicate prevented its members from working with the village of Al -Tariq due to the company’s alleged failure to push its shareholders.