VILLAGE Roadshow Entertainment Group, which has co-produced Joker and The Matrix, is considering taking on an investor or selling itself, the Wall Street Journal reported on Friday, citing sources familiar with the matter.
Village Roadshow’s controlling shareholder, Vine Alternative Investments, has tapped PJT Partners, Inc. and held talks with potential buyers, the report said, adding that the process may not result in a deal.
The company, which has reportedly been making original content as streaming platforms begin to take centerstage, has been under pressure with Netflix, Inc., Walt Disney Co.’s Disney+, and AT&T, Inc.’s HBO Max spending billions of dollars on content.
Village Roadshow has in the past collaborated with Disney and AT&T’s Warner Bros. and recently was behind the Metaverse-themed movie Ready Player One and Morgan Freeman-starrer Going In Style.
The company is among many production houses to consider strategic options as valuation of their content has been rising. The publication earlier reported that Ron Howard and Brian Grazer-founded company Imagine Entertainment is in talks to sell a majority stake to Centricus, an investment firm.
Village Roadshow, Imagine Entertainment, and Centricus did not immediately respond to Reuters requests for comment. — Reuters