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'Joker' and 'The Matrix' Producer Village Roadshow Files for Chapter 11

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The producer and financier of The Matrix, Joker and Lego Movie franchises has filed for bankruptcy protection amid a costly legal battle with WB
Village Roadshow Entertainment Group, known for producing films like "Joker" and "The Matrix," has filed for Chapter 11 bankruptcy protection in the U.S. This filing comes as part of a strategic restructuring to manage its debt, which totals around $350 million. The company, which has been in operation for over 30 years, aims to continue its operations while restructuring its financial obligations. The move was influenced by the broader challenges within the film industry, including the impact of the global health crisis, shifts in consumer behavior towards streaming services, and the ongoing Hollywood strikes affecting production schedules. Village Roadshow plans to use the bankruptcy process to strengthen its financial position and ensure long-term sustainability.

Read the Full Variety Article at:
[ https://www.msn.com/en-us/movies/other/joker-and-the-matrix-producer-village-roadshow-files-for-chapter-11/ar-AA1B5Faf ]