Two VFX shops scale back; Rhythm & Hues finds a buyer

AHollywood Reporteranalysisvalued the deal at $17.8 million.

The acquisition follows other recent purchases of VFX companies by foreign buyers.

Now the bombs have gone off and the smokes clearing, and we want to see what is revealed.

We want to see what happens next.

Other industry members are speculating on what Rhythm & Hues new ownership means for Californias visual effects artists.

What were seeing primarily is Chinese and Indian companies trying to buy U.S. visual effects companies.

Mill TVs credits includeDoctor Who,Merlin, andSherlock.

Tippett Studiohas scaled back its staff.

Tippett is now the smallest its been since before it worked on 2009sThe Twilight Saga: New Moon.

Weve been telling everybody we were going to scale down when we finishedAfter Earth.

So thats what were doing.

Hopefully well have them back soon, but we cant be stupid and spend money we dont have.

For more on whats going on with the VFX industry, read EWs recent report here.