An American judge approved on Tuesday an offer of “hunting horse” of $ 417.5 million in Entertainment for the library of Village Roadshow Entertainment Group (VREG), which filed for bankruptcy last month.
The Delaware bankruptcy court said that the amount was the lowest acceptable to assets, which includes a list of 108 features, including the Matrix franchise and JokerAnd exceeds the offer of $ 365 million filed by content partners. The library would generate $ 50mm in the year.
The interested parties have until May 16 to submit a rival offer and the court will chair an auction four days later if there is more than one tenderer. This may include Warner Bros, with whom Vreg has co -financed 92 features.
The ownership challenges of Warner Bros in these films vary from 15% to 50% and if this prevails at auction, he would have the films in their entirety. The studio retains all distribution rights.
Vreg’s bankruptcy is the last episode of a list of difficulties from the pandemic. He is in arbitration in progress with Warner Bros after continuing the studio for breach of contract in February 2022 for the Liberation Matrix resurrections Simultaneously in cinemas and on HBO Max under the famous plan of “Popcorn” “Project” developed during COVID by the former owners of Warner Bros Warnermedia.
In December, the Writers Guild of America made a work prescription in Vreg in the midst of late payments to the writers, and in January of this year, CEO Steve Mosko left.
VREG is separated from the village Roadshow Group, based in Australia, which was formed in 1954 and includes the theme parks of the village of Roadshow, roadshow distributors, roadshow productions, village studios and village cinemas.
Since 2017, Village Roadshow Group has not had strategic, operational control, management of management or financial responsibility for VREG, and has less than 3% in Vreg.