The Australian-based Village Roadshow Group shouldn’t be impacted by the US-based Village Roadshow Leisure Group’s (VREG) chapter submitting and has set plans to terminate its affiliation with the corporate.
Village Roadshow Group launched an announcement this morning following information of chapter at Village Roadshow Leisure Group. VREG is a completely separate operation from Village Roadshow Group, which was shaped in 1954 and contains Village Roadshow Theme Parks, Roadshow Distributors, Roadshow Productions, Village Roadshow Studios, and Village Cinemas.
“Village Roadshow Group shouldn’t be impacted by VREG’s monetary points. Additional, Village Roadshow Group’s practically 50-year relationship with Warner Bros stays as robust as ever and isn’t impacted,” the corporate stated of their assertion.
The assertion provides that Village Roadshow Group has had no strategic, operational management, administration oversight, or monetary stake in VREG and holds 3% of the corporate. Village Roadshow Group says it was knowledgeable of VREG’s chapter submitting within the press.
“As former homeowners of VREG, we’re extraordinarily upset to learn within the press that VREG has filed for Chapter 11 Chapter within the USA and I’ve instantly despatched discover to terminate VREG’s use of the Village Roadshow identify,” Clark Kirby, CEO Village Roadshow Group, stated in a separate assertion.
Village Roadshow Group stated all it’s “companies proceed to be market leaders of their sectors and extremely worthwhile.”
Village Roadshow has produced and launched over 100 movies since its launch in 1997 together with The Nice Gatsby, the Ocean’s collection, Sully, The Lego Film, and Max Max: Fury Street.
Steve Mosko, who served as CEO of Village Roadshow since 2018, stepped down in January. In late 2024, it got here to gentle that Village Roadshow had been late on funds to writers engaged on their movie and TV initiatives, and the WGA West issued a stop-work order. The chapter submitting famous that “vital legal responsibility has hooked up as a result of unpaid contracts, resembling these with writers and consultants.”
