Disney to Shut Zemeckis-Run Studio
BURBANK, Calif. (
) --
Walt Disney
(DIS) - Get Report
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
.
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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.
This article was written by a staff member of TheStreet.com.