Sheppard represented Village Roadshow Entertainment Group and its affiliates in one of 2025’s most closely watched entertainment bankruptcies, which culminated in a $417.5 million sale and earned a “Deal of the Year” award at the Los Angeles Business Journal’s second annual M&A Awards. Each year, the Los Angeles Business Journal celebrates the transactions and professionals shaping Southern California’s dealmaking landscape.
Village Roadshow commenced chapter 11 proceedings in March 2025 after a liquidity crisis triggered by a protracted arbitration with Warner Brothers, its long-time co-production partner, and ongoing underperformance of its independent studio business. The bankruptcy sale process culminated in Alcon Media Group emerging as the successful bidder not only for the film library, but also for the company’s studio business and derivative rights assets.
Corporate aspects of the transaction were led by Aerin Snow, while Justin Bernbrock and Jennifer Nassiri led Village Roadshow through its bankruptcy proceedings. The transaction was also named “Special Situation M&A Deal of the Year” in the Large Mid Markets category at Global M&A Network’s 2026 Turnaround Atlas Awards.
The deal team also included Alyssa Paddock, Matt Benz, Tom Panoff, Chris Comstock, Sydney Hunemuller, Stacey Rosenberg, Aerin Snow, John Herbstritt, Joe Ireland and Tatev Hovhannisyan.
Sheppard was one of the night’s big winners, earning honors across multiple categories, including a second “Deal of the Year” award for the firm’s representation of Prospect Medical in its $708 million sale of certain assets and its physician business to Astrana Health. In addition Larry Braun received the most prestigious individual recognition of the night—the “M&A Icon of the Year” Award.
Village Roadshow commenced chapter 11 proceedings in March 2025 after a liquidity crisis triggered by a protracted arbitration with Warner Brothers, its long-time co-production partner, and ongoing underperformance of its independent studio business. The bankruptcy sale process culminated in Alcon Media Group emerging as the successful bidder not only for the film library, but also for the company’s studio business and derivative rights assets.
Corporate aspects of the transaction were led by Aerin Snow, while Justin Bernbrock and Jennifer Nassiri led Village Roadshow through its bankruptcy proceedings. The transaction was also named “Special Situation M&A Deal of the Year” in the Large Mid Markets category at Global M&A Network’s 2026 Turnaround Atlas Awards.
The deal team also included Alyssa Paddock, Matt Benz, Tom Panoff, Chris Comstock, Sydney Hunemuller, Stacey Rosenberg, Aerin Snow, John Herbstritt, Joe Ireland and Tatev Hovhannisyan.
Sheppard was one of the night’s big winners, earning honors across multiple categories, including a second “Deal of the Year” award for the firm’s representation of Prospect Medical in its $708 million sale of certain assets and its physician business to Astrana Health. In addition Larry Braun received the most prestigious individual recognition of the night—the “M&A Icon of the Year” Award.