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.

http://www.deadline.com/2013/02/oscar-nominated-vfx-rhythm-and-hues-filing-bankruptcy/

David S. Cohen Reports On Rhythm & Hues Chapter 11 : 11:50pm

“Several buyers reported interested in acquiring the company out of bankruptcy.”

http://www.variety.com/article/VR1118066034/

VFX Law posts: 2:15am

Lots of good info on the legal ramifications.

http://vfxlaw2012.wordpress.com/2013/02/11/rh-fallout/

Soldier On.

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