Skydance Media has acquired the animation unit of Madrid-based Ilion Studios. The brand new entity will likely be rechristened Skydance Animation Madrid.
The businesses had been working collectively for a while. The acquisition provides animation chief John Lasseter management over all features of manufacturing. Skydance and Ilion, each of that are privately held, didn’t disclose a purchase order worth.
The deal will give Skydance roughly 500 workers throughout two continents. It comes as Lasseter is attempting to rework the corporate into a significant drive in animation. That transformation has been bumpy, at instances, primarily as a result of Lasseter’s rent was controversial. Lasseter, the foremost inventive drive at Pixar and Disney Animation, was ousted from the corporate in 2018 amid allegations of sexual misconduct with workers.
At Skydance, Lasseter appointed business veteran Holly Edwards to be president of Skydance Animation and has labored to increase the corporate’s manufacturing slate. The corporate’s upcoming movies embody “Luck,” the story of the unluckiest woman alive, and “Spellbound,” a musical fantasy set in a magical kingdom. The corporate can also be growing tv animated collection. However the firm has additionally confronted pushback, with main figures similar to Emma Thompson publicly withdrawing from initiatives as a result of Lasseter’s rent.
Skydance is backed by David Ellison, the son of Oracle founder Larry Ellison. In a press release, he alluded to the coronavirus pandemic that has disrupted the leisure enterprise and regular life.
“The world goes by way of an unprecedented and unsure time. Right now’s acquisition marks the end result of many months of labor to construct one studio throughout two continents, with the aim of making the highest-quality animation, led by best-in-class expertise from world wide,” Ellison mentioned in a press release. “The addition of Skydance Animation Madrid to our portfolio of companies underlines my ardour and dedication to bringing iconic animated tales and characters to life from a number of the most gifted artists and voices within the business.”
Latham & Watkins acted as authorized adviser to Skydance Media and Loyra Abogados represented Ilion within the deal.