Open Road Films cancels Nov. 7 auction; sale hearing set for Friday

By Caroline Salls

Pittsburgh, Nov. 5 – Open Road Films, LLC canceled the Nov. 7 auction for the sale of substantially all of its assets, according to a notice filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

The company said it did not receive any qualified bids, other than the one submitted by stalking horse bidder OR Acquisition Co, LLC, before the Nov. 2 bid deadline.

As a result, Open Road said it will seek approval of the stalking horse bid at a hearing scheduled for Nov. 9.

Open Road is a Los Angeles-based film operation. The company filed bankruptcy on Sept. 6 under Chapter 11 case number 18-12012.

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