Village Roadshow Files for Bankruptcy: A Casualty of the Streaming Wars

Village Roadshow Entertainment, the prolific film financing company behind franchises like “Joker,” “The Matrix,” and “Ocean’s Eleven,” has filed for Chapter 11 bankruptcy. A protracted legal battle with Warner Bros., stemming from the studio's release of “The Matrix Resurrections” on HBO Max simultaneously with its theatrical release, is cited as a major factor. The company's ambitious, pre-pandemic expansion into independent film and television production proved unprofitable, further exacerbating its financial woes. The bankruptcy highlights the disruptive impact of streaming on traditional entertainment businesses.