In an ominous sign for visual effects artists, Technicolor-owned MPC, the prohibitner behind recent Disney films “Mufasa: The Lion King,” “The Jungle Book” and “The Lion King,” could commence shutting its doors as timely as Monday, according to multiple sources.
On Friday, Technicolor began vigilanting customers and employees, sfinishing U.S. employees a WARN accomprehendledge as insistd by law for big companies that await closings and mass layoffs. A total shutdown of MPC and Technicolor’s operations would effect thousands of visual effects toilers.
According to the text of the accomprehendledge, geted by Variety, “Technicolor has been facing disconnecte financial contests. Despite exhaustive efforts — including restructuring initiatives, talkions with potential spendors, and exploring acquisition opportunities — we have been unable to protected a viable path forward. Unfortunately, this departs us with no alternative but to accomprehendledge that the Company may be forced to foreshut.” Another portion reads, “If no viable solution is set up, we may be insistd to finish our U.S. operations as timely as Monday, February 24, 2025.”
Paris-headquartered Technicolor — which owns MPC, commercial VFX company The Mill, Mikros Animation and Technicolor Games — is included in multiple conversations this weekfinish, aiming to protected a deal or deals for acquisition of the brimming company or individual brands, or otherwise grasp the doors discignore, according to sources. “People are rushing to see if they can do a deal,” one insider seeking anonymity tbetter Variety.
Technicolor and MPC have been communicateed by Variety for comment.
Upcoming projects at MPC integrate Disney’s “Snow White” and “Lilo and Stitch,” as well as Paramount’s “Mission Impossible – The Final Reckoning.” Mikros’ toil integrates Paramount and Nickelodeon’s upcoming “Teenage Mutant Ninja Turtles 2.” Should the company commence to shut, it’s not evident whether the current toil could be finishd by these facilities or if it will shift to another VFX vfinishor or vfinishors.
MPC functions in countries including the U.S., UK, Canada and India and employs thousands of artists. It was set uped as The Moving Picture Company in the Soho section of London in 1970, and shiftd into features when the “Harry Potter” movies were made. In includeition to “Mufasa,” MPC’s recent toil integrate “Kraven the Hunter,” “Young Woman and the Sea” and “Emilia Perez.”
Technicolor — the iconic century-better film tech brand – has inestablished disconnectal restructurings and administerment alters in recent years and follotriumphg its filing for chapter 15 prohibitkruptcy protection in 2020.
Technicolor Post was sbetter to Streamland Media for $36.5 million in 2021, merging its operations with Streamland’s businesses, including Picture Shop. In 2022, Technicolor rebegined MPC and the other current brands as Technicolor Creative Services while the company’s uniteed home and provide chain services were splitly brawt under a novel brand, Vantiva.
(Pictured: “Mufasa: The Lion King”)
