The Australian-based Village Roadshow Group is not impacted by the US-based Village Roadshow Entertainment Group’s (VREG) bankruptcy filing and has set plans to terminate its association with the company.
Village Roadshow Group released a statement this morning following news of bankruptcy at Village Roadshow Entertainment Group. VREG is an entirely separate operation from Village Roadshow Group, which was formed in 1954 and includes Village Roadshow Theme Parks, Roadshow Distributors, Roadshow Productions, Village Roadshow Studios, and Village Cinemas.
“Village Roadshow Group is not impacted by VREG’s financial issues. Further, Village Roadshow Group’s nearly 50-year relationship with Warner Bros remains as strong as ever and is not impacted,” the company said in their statement.
The statement adds that Village Roadshow Group has had no strategic, operational control, management oversight, or financial stake in VREG and holds 3% of the company. Village Roadshow Group says it was informed of VREG’s bankruptcy filing in the press.
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“As former owners of VREG, we are extremely disappointed to read in the press that VREG has filed for Chapter 11 Bankruptcy in the USA and I have immediately sent notice to terminate VREG’s use of the Village Roadshow name,” Clark Kirby, CEO Village Roadshow Group, said in a separate statement.
Village Roadshow Group said all it’s “businesses continue to be market leaders in their sectors and highly profitable.”
Village Roadshow has produced and released over 100 films since its launch in 1997 including The Great Gatsby, the Ocean’s series, Sully, The Lego Movie, and Max Max: Fury Road.
Steve Mosko, who served as CEO of Village Roadshow since 2018, stepped down in January. In late 2024, it came to light that Village Roadshow had been late on payments to writers working on their film and TV projects, and the WGA West issued a stop-work order. The bankruptcy filing noted that “significant liability has attached due to unpaid contracts, such as those with writers and consultants.”
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