Magazine article Screen International

'Gravity' VFX Firm Framestore in £150M China Sale

Magazine article Screen International

'Gravity' VFX Firm Framestore in £150M China Sale

Article excerpt

Oscar-winning UK VFX firm Framestore is to be sold to Chinese firm Cultural Investment Holdings Co, a Shanghai-listed group with media interests that was previously focused on the automotive sector.

Sky broke the news that Framestore has agreed a deal with Cultural Investment Holdings Co (CIH) that will mean the Shanghai-listed group acquires 75% of the business.

The deal values the firm at £150m.

The remainder is owned by the firm's founder and chief executive, Sir William Sargent, and the rest of the management team.

Framestore's credits include Gravity, Superman Returns and upcoming Harry Potter spinoffFantastic Beasts and Where to Find Them. It is currently working on Paddington 2.

Sargent told Sky News: "Partnering with CIH positions us both creatively and financially to be the leaders in the world of story-telling across all visual platforms. …

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