As we sadly see Village Roadshow file for bankruptcy, one key question remains— what will happen to its library assets? As the debates around the future ownership of this lucrative catalog heat up, we have entertainment lawyer at Blake & Wang P.A., Brandon Blake, to shed some light on the matter.
Bankruptcy Filings
Despite several attempts to boost their in-house content development, and on the heels of a noted souring of the relationship with one-time partner Warner Bros. Discovery, Village Roadshow has been unable to repeat the magic it once had with popular franchises like Ocean’s Eleven and The Matrix. Sadly, the bulk of its current woes can be traced to its attempt to shift away from box office development into an in-house film and TV developer.
Nor did a messy copyright entanglement with WBD help anything, especially as it sidelines quite a few of their more lucrative IPs, which have joint rights. There’s also a block on work for Village Roadshow from the Writers Guild of America due to unpaid dues for its members.
Library Assets Up for Grabs
Currently, it’s reported that Village Roadshow’s library assets generate over $50M a year, an appealing collection indeed for the right buyer. Especially as streaming services look to revive older library assets as an on-platform money generator, as we saw with Suits.
Ironically, Warner Bros. Discovery seems to be one of the frontrunners for the Village Roadshow library. While there is a tentative agreement in place with Content Partners, an investment firm, set at the $365M mark, this is only a baseline figure, and the company is still seeking higher bids. The assets themselves have been valued at anything from $100M to $500M, but the ongoing bankruptcy and litigation issues have made closing a transaction difficult.
While it’s always sad to see a Hollywood stalwart fade away, at least Village Roadshow’s well-respected content library will live on.
Film and Television 