Good news for bankrupt VFX studio Rhythm and Hues, a South Korean media company has put in a bid for the studio along with a few other unnamed bidders. The media company, JS Communications Co, has bid around $17 million for the studio and will be paying $1 million in cash to help satisfy loans.
In the wake of VFX studio Rhythm and Hues filing for bankruptcy, protests were started at the Oscars outside the Dolby theatre in Los Angeles on Sunday. Rhythm and Hues were responsible for the visual effects used in the film Life of Pi which ironically won an Oscar in the same category. When the team tried to bring the tragic bankruptcy to the audience’s attention during their acceptance speech, they were cut off by a crass rendition of the Jaws theme.