The Toronto studio that did the animation work for the blockbuster film
Gnomeo and Juliet,
Starz Animation Toronto, has been sold to a majority ownership group of Canadian investors led by J. Thomas Murray and Steven B. Hecht. While the former owner, US-based
Starz LLP, will retain a minority ownership stake, Hecht says that being Canadian-owned will allow new routes for "aggressive growth."
Hecht says Canadian ownership will allow the company to take advantage of "significant grants, labour tax credits and subsidy opportunities available in Canada." He says the plan is to continue its production work for major studios while building a larger multimedia business using the company's animation, CG and visual effects expertise.
The company notes that in 2009 the provincial government contributed just under $23 million to a total $153 million investment in the Toronto studio to create 250 jobs, and anticipates the province's continued support under the new ownership group.
In addition to the $100 million success of
Gnomeo and Juliet, the studio has also worked on the TV series
Camelot, the film
9 and the upcoming Warner Brothers film
Dolphin Tale.
Writer: Edward Keenan
Source: Stephen B. Hecht, Starz Animation Toronto