The troubled visual effects industry is facing a major shift, as three VFX shops announced major changes Friday, including the buyout of Life of Pi’s visual effects company Rhythm & Hues.
EW gave you the low-down on the struggles of the VFX industry that have been getting a bigger spotlight since Rhythm & Hues filed for bankruptcy in February. Here’s an update with the latest on three visual effects shops whose collective work includes Life of Pi, the Twilight Saga, and Doctor Who.
Rhythm & Hues, the VFX company behind the Oscar-winning effects in Life of Pi, started its bankruptcy auction earlier this week and has found a buyer. Friday afternoon the U.S. Bankruptcy Court approved the winning bidder, a holding company for Prana Studios, a VFX and animation company with offices in Los Angeles and Mumbai, India. A Hollywood Reporter analysis valued the deal at $17.8 million. READ FULL STORY