Alcon Media Group has been awarded the derivative rights to Warner Bros.-released films that the company acquired from the bankrupt Village Roadshow, including “The Matrix,” “Practical Magic” and “Mad Max.”
While Alcon purchased the library this past June for $417.5 million, the derivative rights — which grant the company the right to authorize and participate in any sequels or remakes based on the Village Roadshow IP — were in dispute in a Delaware bankruptcy court.
“The court’s ruling today will allow Alcon to complete its comprehensive purchase of the Village Roadshow assets,” AMG CEOs Andrew Kosove and Broderick Johnson said in a statement. “Alcon looks forward to working collaboratively with Warner Bros., as we have for over a quarter-century, to partner in the exploitation of the derivative rights to these many great films across multiple platforms.”
Village Roadshow was forced into bankruptcy after a failed venture into producing its own films and TV shows as well as losing a 2021 lawsuit against Warner Bros. over its decision to simultaneously release “The Matrix Resurrections” in theaters and on streaming. Warner won the lawsuit and was awarded $125 million after it was found that Village Roadshow had failed to pay its share of co-financing agreements for the film.
Among the titles Alcon has acquired in the Village Roadshow library are the “Ocean’s Eleven” series, “Wonka,” “Ready Player One” and the 2009 Guy Ritchie adaptation of “Sherlock Holmes.” Alcon’s previously existing library includes “Blade Runner 2049,” “The Blind Side,” Christopher Nolan’s “Insomnia,” Denis Villeneuve’s “Prisoners” and the recently rebooted “Garfield” franchise voiced by Chris Pratt.
