Village Roadshow looks set for a bitter and protracted board and family dispute over the leadership and future direction of the film, cinema and theme parks business.

Veteran investment banker and founder of K Capital David Kingston, who is working with Village deputy chairman John Kirby, said despite improvements in the last six months significant change is still required. Mr Kirby is pushing for major changes including seek his brother Robert Kirby removed as chairman and chief executive Graham Burke moved on. He also believes the $579 million business should sell off the majority of assets outside of its cinemas and Queensland theme parks.