Rhythm & Hues finalizes sale to Prana Studios

A federal bankruptcy judge on Friday approved the sale of Rhythm & Hues, the Oscar-winning visual effects company that recently filed for bankruptcy protection, to an affiliate of Prana Studios, a Los Angeles animation and effects company.

A subsidiary of Prana Studios called 34X118 Holdings came in with the highest offer following a two-day auction held at the Century City offices of the law firm Greenberg Glusker. It beat out several other bidders, including Prime Focus, one of India's largest post-production companies, and an investor in China Lion, a film distribution company with an office in L.A.

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