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)
- Samuel L. Jackson Back with Tarantino for 'Hateful Eight' Live-Read (From FirstShowing.net. 18 April 2014, 2:28 PM, PDT)
- Samuel L. Jackson Joins Quentin Tarantino's 'The Hateful Eight' Live Reading (From MovieWeb. 18 April 2014, 12:46 PM, PDT)
- Set Visit: The Expendables 3 - Part Two: Witnessing the birth of action badassery (From JoBlo. 17 April 2014, 4:56 AM, PDT)
TRON: Legacy (2010)
- Which Bad Movies Have Absolutely Brilliant Soundtracks? (From Obsessed with Film. 18 April 2014, 8:28 AM, PDT)
- Sandman Concept Art From Unproduced Logan's Run Remake (From ComicBookMovie. 17 April 2014, 7:42 PM, PDT)
- Kosinski Confirms ‘Tron 3′ Still Being Written (From The Hollywood News. 17 April 2014, 6:54 AM, PDT)
Life of Pi (2012)
- Qed Buys ‘Yellowstone Falls’; 52-Page Spec About Wolves Battling Mutated Humans (From Deadline New York. 14 April 2014, 11:26 AM, PDT)
- Jackie Chan, Irrfan Khan and Norah Jones among those honoured at the Fourth Annual Asian Awards (From Bollyspice. 13 April 2014, 9:03 AM, PDT)
- Enter Disney’s Million Dollar Arm Pitching Contest To Win A Million Dollars (From WeAreMovieGeeks.com. 12 April 2014, 5:43 AM, PDT)