‘Matrix’ Studio Backs Alcon, Opposes Warner Bros. in Sale Dispute

The bankrupt studio behind the “Matrix” saga is dismissing Warner Bros. Entertainment’s attempt to acquire its assets instead of Alcon Media Group, calling the media giant’s arguments logically inconsistent.

None of Warner Bros.’ objections meet the legal standard to block the sale of derivative rights assets to Alcon, Village Roadshow Entertainment Group said Wednesday in the US Bankruptcy Court for the District of Delaware.

Warner Bros. had asked the court to reject the sale and allow it to purchase the assets instead, arguing its revised $28.5 million bid is higher and better than Alcon’s $18.5 million offer. Warner Bros. also ...