Media 8 files for bankruptcy

Independent production company overwhelmed by debt.

by Jennie Kermode

Ben Affleck, Charlize Theron and Paul Walker are among the stars whose unpaid fees contributed to spiralling debts which eventually brought down Media 8. The independent producer and distributor behind films like Monster and Jackboots On Whitehall hopes that a bankruptcy agreement will give it access to loans that could enable it to meet its obligations and restart production.

Based in Florida and Los Angeles but with extensive holdings in Canada, Media 8 distributed films worldwide and contributed to several festivals, including the Edinburgh International Film Festival. Its back catalogue is estimated to be worth over $7M but it is thought that the bankruptcy agreement will involve handing over the rights to some of its films to its creditors.

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