Industry website The Wrap is reporting that visual effects studio Rhythm & Hues is to receive an ‘emergency $20 million capital infusion from three major Hollywood studios in order to keep its doors open through April’, citing three sources with knowledge of the situation. The publication is also reporting that Rhythm & Hues may be sold to Prime Focus, the Indian-based visual effects and post-production company.
fxguide reached out to Rhythm & Hues on the news but at this stage they have said they have no comment to make.
Rhythm & Hues most recently worked on Life of Pi (which is nominated for a Best Visual Effects Oscar, along with another film the studio contributed to, Snow White and the Huntsman). It also has Category 6, Percy Jackson: Sea of Monsters and R.I.P.D. on its upcoming slate.
You can read the full article at The Wrap here.
David S. Cohen has additional information in this Variety article.
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