Disney to Shut Zemeckis-Run Studio

BURBANK, Calif. (TheStreet) -- Walt Disney(DIS) said Friday it plans to shut down a studio that specialized in 3-D motion-capture technology, according to published media reports.

The facility in Marin County, Calif. was built by ImageMovers Digital, a company co-founded by filmmaker Robert Zemeckis and partially owned by Disney, the Associated Press reported. It specializes in using technology to capture the performances of live actors for use in digital animation.

The closing will result in the loss of 450 jobs.

Disney attributed its decision to cost-cutting. "Given today's economic realities, we need to find alternative ways to bring creative content to audiences and IMD no longer fits into our business model," Alan Bergman, the president of Walt Disney Studios, was quoted saying by the AP.

> > Bull or Bear? Vote in Our Poll

The studio will finish production on Mars Needs Moms!, a 3-D movie, before it closes.

Movies produced at the facility include A Christmas Carol starring Jim Carrey.

Shares of Walt Disney closed Friday at $33.69.

>To order reprints of this article, click here: Reprints