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Wednesday, October 31, 2007

Sony wants to sell a slice of its visual effects and animation groups

From today's NY Times:

    Sony Pictures Entertainment is considering selling half of its fledgling animation studio, maker of the films “Surf’s Up” and “Open Season,” and even more of its thriving 15-year-old digital visual-effects company, which pioneered computer-generated imaging techniques in films like “Stuart Little,” “The Polar Express” and the “Spider-Man” movies.

    Sony Pictures, a unit of the Sony Corporation, has hired the investment bank Houlihan Lokey Howard & Zukin to assess the value of the two divisions. An outright sale of both, which is possible, could bring around $500 million, according to people involved in the discussions.

    All told, Sony has invested more than $400 million in the animation and effects businesses over the years.

According to the story, Sony Pictures ImageWorks now rivals ILM and Weta Digital in size.

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