Lots of chatter of artists being called by Rhythm . Will post more as the news rolls in but multiple sources have been confirming. Rhythm told employees that payroll was delayed. Incredibly bad news for those affected.
Confirmation: 2/10 11:30pm
Variety’s David S. Cohen has confirmed the news. The Prime Focus deal has fallen through and the company will file Chapter 11:
I tweeted my skepticism about Prime Focus being able to make an acquisition. If I’m reading their financials correctly, they only have $US 800,000 in cash.
Deadline reports: 11:45pm
Workers are being asked not to show up to the El Segundo facility. What about the other facilities? Update: Deadline is incorrect. Some are being called not to come in to work.
David S. Cohen Reports On Rhythm & Hues Chapter 11 : 11:50pm
“Several buyers reported interested in acquiring the company out of bankruptcy.”
VFX Law posts: 2:15am
Lots of good info on the legal ramifications.