Skydance Media Acquires Animation Unit of Ilion Studios

According to the Hollywood Reporter, Skydance Media has acquired the animation unit of Spain-based Ilion Studios.

The deal will form a new animation studio called Skydance Animation Madrid. Financial details of the deal were not disclosed.

"The world is going through an unprecedented and uncertain time," says David Ellison, chief executive officer, Skydance Media. "Today’s acquisition marks the culmination of many months of work to build one studio across two continents, with the goal of creating the highest-quality animation, led by best-in-class talent from around the world. The addition of Skydance Animation Madrid to our portfolio of businesses underlines my passion and commitment to bringing iconic animated stories and characters to life from some of the most talented artists and voices in the industry.”

The combined workforce of Skydance Animation will now increase to nearly 500 employees across two continents. The animation studio is led by former Pixar executive John Lasseter and Holly Edwards.

"We are excited to expand our partnership with Skydance Animation and to further collaborate with Skydance founder David Ellison and elite talent like John Lasseter and Holly Edwards,” adds Ignacio Pérez Dolset, founder, president and chief creative officer, Ilion. “This is a phenomenal growth opportunity for our team in Spain and we’re proud to be an integral part of Skydance’s exciting future."

In addition to animated films such as the upcoming Spellbound, Skydance Animation also has a slate of television franchises in development.