According to The Baltic Course, the forty year old studiio made the decision after its second application for funding was rejected. The studio has produced 125 animated films, and was working on its 126th project.
The studio has not yet declared bankruptcy, but is looking into other options. The studio held a special closing event on June 16.
The Film New Europe (FNE) Association is the networking platform for film professionals in the CEE/SEE/Baltics region. The webportal and FNE newswire was chosen as the MAIN TOOL to achieve the network’s objectives of the sharing of know how, visibility of regional cultural diversity and finally the VOICE of the region.
FNE’s objectives include VISIBILITY for the region and AUDIENCES for films by providing a special focus on the region.