The company will no longer go public due to the “headwinds in the SPAC marketplace and general market volatility.”
The upcoming musical series from Kid Cudi and Kenya Barris will be available to stream early this fall.
The holiday feature will be adapted from a series of kids books by celebrated filmmaker Richard Curtis with Simon Otto directing.
DNEG is currently working on several Netflix titles including Stranger Things, Nimona, and The School for Good and Evil.
The vfx giant’s move follows an abandoned plan for an IPO.
Jaggars will lead the vfx and stereo teams across the company’s 8,000-strong workforce.
Locksmith Animation’s debut delivers good laughs and timely social commentary, say critics.
“It is the right thing for the staff, the right thing for the industry to do,” said DNEG exec Chris Burn.
The new Toronto base will work on vfx for film and episodic projects, feature animation, and technology.
Novator, which is led by Icelandic billionaire Thor Björgólfsson, will own a 15% stake in DNEG.
The London-based company cites the current boom in demand for content as a reason.
Ty has been named the division’s global head of character animation, while Donato joins as vfx supervisor on a major project.
The film will be animated by vfx titan DNEG’s young feature animation unit.
Both films were scheduled for April. “Ron’s Gone Wrong” is now due to come out October 22 and “Bob’s Burgers” is unset.
Christopher Nolan tends to favor practical over visual effects — even when it comes to blowing up a plane.
It’s not all Covid. Honest.
Staff at the vfx titan are facing significant pay cuts. But some are now being offered “salary support,” with the help of production partner Locksmith Animation.
If March was defined by the shock of the coronavirus’s global spread, April is when we started to really see its repercussions for animation, and glimpse how the industry may change for good.
The company says this must be done in order to retain jobs amid the crisis. Union representatives are worried about the long-term implications.