London-based visual effects studio Glassworks VFX is to close after nearly three decades in business.
The studio said its closure had been primarily driven by "exceptionally challenging market conditions.”
The company's board of directors has instructed Castle Hill Insolvency to manage the formal process of entering liquidation.
A slowdown in production has seen major changes in the VFX sector in recent months, including the closure of The Mill, MPC and Jellyfish Pictures.
In a statement, Glassworks said: "The past 15 months have been a turbulent period in both the commercial and narrative spheres, with decreased opportunities exacerbated by the increased pressure of global competition. For a studio that has given so much to the world of visual artistry, to be forced to close its doors under such circumstances is truly heartbreaking.
"Founded in 1996 by CEO Hector Macleod, Glassworks wasn't just a company; it was a vanguard of creativity. It fostered an environment where artistic boundaries were constantly pushed, and where the most complex visions were brought to breathtaking life. The name became synonymous with uncompromising quality, audacious innovation, and a deeply personalised service."
The company worked across commercials, feature films, live events, television, and digital content.
The statement added: "Our thoughts are with every single individual who was part of the Glassworks family. Their talent and craft have enriched our screens and imaginations, etched into the history of visual effects and continuing to inspire generations of artists to come.”
 (1).jpg)
Skydance to bundle HBO Max and Paramount+ in $6bn cost-saving plan
Skydance is to offer HBO Max and Paramount+ together as part of a streaming bundle early next year.
Bomb threats disrupt European broadcasters
A series of bomb threats have been sent to broadcasters in Europe, causing evacuations and programming to be suspended.
.jpg)
Fox completes $22bn Roku acquisition
Fox Corp has completed its $22bn acquisition of connected TV platform Roku.
56% say film and TV jobs harm their mental health
The Film and TV Charity’s latest report found that 56% say working in the industry negatively affects their mental health, and only 13% believe the industry is a mentally healthy place to work.
 (1).jpg)
Google bans Android TV streaming partner Videostrong
Google has banned a China-based maker of Android TV streaming boxes that built a backdoor into the firmware and sold access to the infected devices to criminals.
