Visual-effects company Rhythm & Hues Inc. received approval from a bankruptcy judge to sell itself to a buyer with ties to Los Angeles competitor Prana Studios Inc. that promised to fund the struggling studio while the firm looks for more work from Hollywood, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Neil Bason on Friday signed off on the purchase offer from a Prana-related entity that offered to pay $1.2 million in cash and to cover what was spent on Rhythm & Hues' $17 million bankruptcy loan.
