Film producer and distributor Media 8 Entertainment, which is known for putting out movies that have fallen just beyond Hollywood’s gaze, has taken an unscripted turn toward bankruptcy.
Running low on cash, the company filed for Chapter 11 protection with a potentially valuable film library but with $8.6 million worth of debt owed to stars like Charlize Theron, Ben Affleck and Christina Ricci, according to papers filed in U.S. Bankruptcy Court in Fort Myers, Fla.
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