Under the agreement, current DNEG equity holders will retain approximately 71% ownership in DNEG and will roll 85% of their equity interests into the merged company (assuming no redemptions by Sports Ventures’ existing public stockholders). The proposed SPAC deal has been unanimously approved by the board of directors of Sports Ventures and DNEG it remains subject to approval by Sports Ventures’ stockholders and other customary closing conditions. We are DNEG, one of the worlds leading VFX and animation studios for the creation of award-winning feature film, television and multiplatform content. “Leveraging our leading technology stack, DNEG is already making great strides into new growth areas such as gaming and content creation partnerships, and we are perfectly positioned to exploit massive new opportunities in the metaverse and the convergence of all forms of content creation.” “This transaction creates long-term stability for our teams while also allowing us to exploit the tailwinds in the media and entertainment industry and the explosion in demand for content, which are huge growth drivers for our company,” Malhotra said in a statement. In 2021, the company won the visual effects BAFTA and Oscar for Christopher Nolan‘s “Tenet.” Other film and TV credits include “The Matrix Resurrections,” “Ron’s Gone Wrong,” “The Flash,” “Sonic the Hedgehog 2,” “Jurassic World: Dominion,” “The Gilded Age,” “The Wheel of Time,” “Foundation,” “Ghostbusters: Afterlife” and “Zack Snyder’s Justice League.” The newly public company will be led by Namit Malhotra, DNEG’s chairman and CEO.ĭNEG was formed through the 2014 merger of Prime Focus (founded in 1997) and Double Negative (founded in 1998). Upon closing of the SPAC transaction, expected in the first half of calendar year 2022, the combined company will be renamed DNEG and it is expected that shares will be listed on the Nasdaq exchange. ![]() Production Posse: Usually present on films made by Disney, Christopher Nolan, or Edgar Wright.The company disclosed that it projects approximately $400 million in revenue and adjusted EBITDA of $100 million for its fiscal year ending March 31, 2022.Live-Action Adaptation: Several, especially Prince of Persia, V for Vendetta, Doom and their work on the Marvel and DC movies. ![]() Harry Potter and the Philosopher's Stone.The studio has also provided 3D conversions for The Tree of Life (Astral Realm sequence).The Pirates! In an Adventure with Scientists.Nimona (finished animating the film after the original studio, Blue Sky Studios, was shuttered).The Lord of the Rings: The Rings of Power.The Wizarding World of Harry Potter attractions Hagrid's Magical Creatures Motorbike Adventure and Harry Potter and the Escape from Gringotts.Harry Potter and the Deathly Hallows, Parts 1 and 2.Harry Potter and the Order of the Phoenix.Harry Potter and the Prisoner of Azkaban.Doctor Who (Series 11-12 of the revival series).The company's effects work can be sampled in: See also Ghost VFX, an effects studio that DNEG worked with several times. That very same year, the studio would help form Locksmith Animation, with their first feature Ron's Gone Wrong releasing in October 2021. On June 25, 2014, they merged with fellow effects studio Prime Focus. ![]() They've since expanded to become the largest European VFX studio with more than 750 people in their staff. Double Negative VFX (often shortened to DNEG) are a British Visual Effects company that first opened in 1998 with 30 people on board.
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