The company attributed its red ink to its protracted battle with Warner Bros. over the release of "The Matrix Resurrections" and a push into independent production. Village Roadshow said a potential sale last year collapsed because of uncertainty surrounding the dispute.

The film production house behind The Matrix and Ocean’s sagas filed for bankruptcy in the US amid a long-drawn legal battle with Warner Bros Discovery Inc.

The original Looney Tunes animated shorts that aired between the 1930 and 1969 are no longer available to stream on Max, Deadline reports. Warner Bros. Discovery removed them from the streaming service as part of its ongoing shift away from children's shows and towards adult and family programming.

Warner Bros. has removed all its original Looney Tunes animated shorts from its streaming service Max. The shorts ran during an almost 40-year period, between 1930 and 1969. This is part of the streamer's new plan to prioritize adult and family programming, as children's entertainment doesn't drive as much viewership.