JS Communications has finally settled for a reduced break-up fee in the drawn-out Rhythm & Hues bankruptcy saga. It’s been two months since troubled VFX house R&H sold out of bankruptcy to Prana Studios-led Holdings, LLC following a roller-coaster closed-door auction. At issue was the court-approved $425K fee promised to JS Communications as stalking horse bidder if a qualified rival beat them out for the Life Of Pi company, which JS was eyeing to buy. But in a hotly contested development, JS failed to meet a deadline to submit its bid (exec David Shim told me then that his dealings with Fox and Universal left him less than optimistic about buying R&H without future work assurances). Per a court document filed this week (read it here), JS will receive a $300K break-up fee. If approved in court June 4, that should put the R&H saga to bed for the time being; multiple class action lawsuits against R&H filed by former employees have yet to be settled.
JS Communications Settles Rhythm & Hues Fee Dispute
What's Hot on Deadline
Sony Pictures Confirms Quentin Tarantino Deal; Margot Robbie, Tom Cruise, Brad Pitt, Leonardo DiCaprio Circling
Jeffrey Tambor Accused By 'Transparent' Actress Of Sexual Harassment; Actor Admits "Flaws," Says "Misinterpreted"
'The Royals' Female Cast & Crew Members Speak Out, Accuse Showrunner Mark Schwahn Of Sexual Harassment
Ryan Eggold, Who Played Fan Favorite Tom Keen In 'The Blacklist,' Joins Spike Lee's 'Black Klansman'
Latest Film News
- Fox And Viacom Lead Media Stock Rally Sparked By Merger Speculation
- ‘The Greatest Showman’ Songwriters Benj Pasek & Justin Paul On The Revitalization Of The Original…
- Oscars 2018: A Look At Contenders In The Best Animated Feature Race
- Josh Hartnett & Margarita Levieva To Star In Crime Thriller ‘Inherit The Viper’
- Costume Designer-Turned-Helmer Courtney Hoffman To Direct Feature From Her ‘The Good Time Girls’ Short
- Deadline’s Podcast New Hollywood: Race-Specific Characters & ‘The 15:17 To Paris’ With Sinqua Walls