Global Showbiz Briefs: VFX Progress, Stone Roses Doc, Shine Exec Shuffle & More

Prime Focus Pulls Into China; UK May Shore Up VFX Industry
The gloomy VFX scene saw a few bright spots in the international market today. In the UK, the 2013 budget was unveiled and along with it, news that the Treasury will launch a public consultation on options to provide further support for the VFX industry via the tax system. In total, the creative industries received an extra £25M to help boost economic growth. Meanwhile, VFX specialist Prime Focus said it is setting up a Chinese joint venture with Hong Kong–based private equity group AID Partners and local partner Zhejiang Jingqi Wenhua Chuanbo Company. Prime Focus, which is listed on the Bombay Stock Exchange and has offices in the U.S., Canada, the UK and India, will invest $3M in the new operation which will provide services including 2D/3D conversion, VFX and post-production services on the mainland and in Hong Kong, Macau and Taiwan. At the same time, AID, whose investments include Legendary Pictures and HMV Asia, has invested $10M in Prime Focus’ Netherlands subsidiary, Prime Focus World NV. The group’s credits include Shrek, Transformers 3, Harry Potter And The Deathly Hallows Part 2, The Smurfs and Men In Black 3. (more…)

This article was printed from https://deadline.com/2013/03/global-showbiz-briefs-vfx-progress-stone-roses-doc-shine-exec-shuffle-more-457825/