Imagi Studios Goes Down, Takes Gatchaman With It

Some bad and sad news for those of you looking forward to a Gatchaman movie, Imagi Animation Studios, the Hong-Kong-based company behind the production, has officially folded.

The move should come as no surprise to anyone keeping track of Imagi's recent troubles. Though the studio had success in 2007 with its first release, TMNT, their 2009 follow-up Astro Boy received mixed reviews and fared poorly at the box office. Imagi's recent lay-off of 300 employees only further signaled the decline of the studio.

However, there is one small glimmer of hope for the eternal-optimists out there. According to Yahoo! News, Imagi will "continue to develop movie ideas and outsource the actual animation work to mainland China and other countries, where costs are lower."

Could Gatchaman possibly find life elsewhere?

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