David S. Cohen · @Variety_DSCohen
29th Mar 2013 from TwitLonger
Prime Focus congratulates R&H on its sale: (First offical confirmation comes from a losing bidder. Go figure.) PRIME FOCUS WORLD EXTENDS ITS CONGRATULATIONS
TO ARTISTS, EMPLOYEES AND STAFF OF RHYTHM & HUES
Los Angeles, March 29, 2013 - Prime Focus World, NV ("PFW"); global creative services provider specializing in Visual Effects, Animation, and 3D Conversion, and arm of India-based Prime Focus Limited (“Prime Focus", BSE code: 532748); extends it congratulations to the artists, employees and staff of Rhythm & Hues Studios (“R&H”). The US bankruptcy court today approved the sale of Rhythm & Hues to its new owners, allowing R&H to emerge from bankruptcy status. While Prime Focus is disappointed that we did not prevail in the sale process for R&H, we wanted to take a moment to focus on the positive aspects for our industry's most valuable asset - people. Over the years, it is the people that have made Rhythm & Hues what it is today. At its essence, the people of the visual effects industry, and those that collaborate with them, are the power behind the magical computer generated moments that capture imaginations worldwide. While the financial fates of various companies can rise and fall, we can't lose sight of people being our core strength. We sincerely hope that the sale brings greater stability to Rhythm & Hues, its artists, employees, and staff, and to the VFX community in Los Angeles and around the globe. We look forward to future opportunities with Rhythm & Hues and their team and wish them the greatest of successes in the future.