Visual-effects company Rhythm & Hues Studios Inc., the company behind the tiger and other effects in "Life of Pi," said in a court filing on Thursday that it received a bid valued at about $17 million from South Korean media company JS Communications Co., the Wall Street Journal reported today. On Friday a federal bankruptcy judge approved a request to make the Korean company the stalking-horse bidder for Rhythm & Hues, said the visual-effects company's attorney, Brian Davidoff, of Greenberg Glusker Fields Claman & Machtinger LLP. JS is offering to assume nearly $16 million of debtor-in-possession loans from two studios for which Rhythm & Hues is doing work and to pay $1 million in cash to help satisfy other liabilities.
