Magazine article Screen International

Korean Company Eyes Rhythm & Hues

Magazine article Screen International

Korean Company Eyes Rhythm & Hues

Article excerpt

The beleaguered Oscar-winning Los Angeles-based VFX house has caught the eye of South Korean entertainment and media company JS Communications.

The Asian suitor has reportedly signed a letter of intent to acquire the effects company behind the Oscar-winning Life Of Pi.

Rhythm & Hues filed for Chapter 11 bankruptcy in February and laid off 250 of its approximately 1,400 employees last month.

A bankruptcy judge has approved approximately $16m in loans from Fox, with whom Rhythm & Hues collaborated on Life Of Pi, and Universal.

The lifeline has enabled Rhythm & Hues to remain operational while it completes work on upcoming releases R.I.P.D. and the Percy Jackson sequel. It is also working on the Warner Bros titles 300: Rise Of An Empire and Black Sky. …

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