Rhythm & Hues Acquired By Affiliate of PRANA Studios, Inc.

Academy Award®-winning visual effects and animation studio Rhythm & Hues was acquired out of bankruptcy today by a wholly-owned affiliate of Los Angeles-based Prana Studios, Inc.  At a hearing held today in U.S. Bankruptcy Court in Los Angeles, Judge Neil Bason approved Prana Studios affiliate, 34×118 Holdings Inc., as the winning bidder after a two-day auction.