Movie-Eye, Japan files for bankruptcy

MUMBAI: Japanese producer-distributor Movie-Eye Entertainment which is also distributor of Oscar-winning films like Crash and Million Dollar Baby has filed for bankruptcy, it is reportedly learnt.It is said that Movie-Eye increased its spend on films in anticipation of becoming a listed company last year but the global slowdown, the recession in Japan and under-performing box-office led to losses of $45m (Y4.29b).

Established in April 2000 and headed by former Gaga Said MercuryMedia chief executive Tim Sparke, “It is a tremendous privilege to be working with Microcinema and it‘s fantastic that our first title should be about a subject which continues to resonate and arouses such passion.

“We are confident that there is an untapped European and Austral-Asian markets for Microcinema‘s fantastic catalogue which we are eager to offer to our appreciative client base.”