Warner Bros. Challenges Alcon Bid for ‘Matrix’ Studio Rights

Warner Bros. Entertainment urged a court to reject the sale of bankrupt Village Roadshow Entertainment Group’s derivative rights to Alcon Media and allow it to purchase them instead.

The entertainment giant’s revised $28.5 million bid is higher and better than Alcon’s $18.5 million offer, it argued in redacted filings Monday in the US Bankruptcy Court for the District of Delaware. Warner Bros. also said Village Roadshow can’t sell the rights without Warner Bros.’ consent.

Warner Bros. and Alcon’s strained relationship resurfaced in bankruptcy court as both vie for the derivative rights of Village Roadshow, the production house behind the “Matrix” ...