Prana Studios, an India-us firm has placed the winning bid to acquire Rhythm and Hues, the studio behind the creation of Ang Lee’s Life of Pi. The bidding value is estimated to be at $ 17.8 million, of which $1.2 million will be paid in cash, $16,277,020 will be invested in clearing debt, and an estimated $327,222 in cure amounts.
A California bankruptcy court approved the sale on Friday afternoon.
VFX house Rhythm and Hues Studios filed for Chapter 11 bankruptcy proceeding in the United States on February 23, 2013. This year the studio won a BAFTA award and an Oscar for visual effects in Life of Pi. Formed in 1987, Rhythm and Hues Studios has branches in Mumbai and Hyderabad in India, Los Angeles, Kuala Lumpur, Vancouver and Kaohsiung. Some of the noted films »
Similar News ItemsDjango Unchained (2012)
- ‘Live By Night’ review: “Perfectly enjoyable, but lacks pizzazz” (From The Hollywood News. 12 January 2017, 12:00 AM, PST)
- Will Smith Circling Disney’s Live Action ‘Dumbo’ (From The Playlist. 11 January 2017, 12:27 PM, PST)
- Tomb Raider Movie Adds Daniel Wu To Growing Ensemble (From We Got This Covered. 11 January 2017, 12:04 PM, PST)
TRON: Legacy (2010)
- In Defense Of: Tron: Legacy (2010) (From We Got This Covered. 22 January 2017, 8:50 PM, PST)
- ‘xXx: Return of Xander Cage’ and 29 Other Movie Sequels That Took Forever to Hit Screen (Photos) (From The Wrap. 22 January 2017, 8:30 AM, PST)
- Disney's Dumbo Targets Tom Hanks as the Villain (From MovieWeb. 12 January 2017, 8:45 AM, PST)
Life of Pi (2012)
- Jurassic World Sequel Adds The Originals & The Detour Actress Daniella Pineda In A Key Role (From ComicBookMovie. 23 January 2017, 2:03 PM, PST)
- NBC Orders 'For God and Country' Military Drama Pilot (From hollywoodreporter_tv. 19 January 2017, 8:15 PM, PST)
- NBC Orders 'For God and Country' Military Drama Pilot (From The Hollywood Reporter - TV News. 19 January 2017, 8:15 PM, PST)