Bron Studios, co-financier of ‘Joker’ and ‘Licorice Pizza’, files for bankruptcy

Bron Studios, the Canadian production and financing company, has filed for bankruptcy. The company has filed for Chapter 15 bankruptcy in the United States and creditor protection in Canada.

The company is known for co-financing projects such as Jokerthe Oscar-winning film that grossed $1.1 billion at the worldwide box office, and Paul Thomas Anderson’s film Licorice Pizza, and has had relationships with talents like Charlize Theron and Jason Reitman. Rumors of financial strain at the company had been circulating for months and, in a letter released Wednesday, the company cited headwinds within the industry.

“Having explored many options over many months, Bron had no choice but to take this step in light of his financial circumstances,” wrote CEO Aaron L. Gilbert. “The last few years have been incredibly difficult for Bron and things have only gotten more complicated in the last few months. Covid and several other issues that have hit the media industry in recent years, most recently strikes, have made it impossible for Bron’s ability to continue his existing business.

The pandemic has been especially tough on Bron. Additionally, the company’s co-financing deals with Warner Bros. and MGM have come to an end.

A source says Bron’s filing is a major blow to the company as the company has been pouring money into projects others were nervous about. “Unfortunately, this was unavoidable,” says the source.

Projects in recent years included the Academy Award Judas and the Black Messiah, Bomb, Queen and slim and the Aretha Franklin biopic Respect.

Collectively, the various films financed and/or produced by Bron over the years have garnered a total of 30 Academy Award nominations and six wins.