Judge Sets May Deadline For Bids On Bankrupt Village Roadshow

A Delaware bankruptcy court judge has set a May 16 deadline for interested bidders to respond to Village Roadshow's sale process and an auction date of May 20 if multiple parties submit offers. The top bid currently on the table, from Alcon Entertainment, is $416.5 million, established as a "stalking horse" offer that sets a price floor while encouraging competition for the company’s assets. Village Roadshow’s library includes iconic films and rights held in trust by its bankruptcy estate, including a nascent studio business focused on independent projects. Prospective bidders can now access electronic due diligence materials to evaluate the deal.