new campus in Port St. Lucie, Florida, Tradition Studios was shut down by its parent company, Digital Domain Media Group, today, as the effects house battles immense financial and management troubles.
CEO John Textor simultaneously resigned, stating that he is in "profound disagreement" with the company's decision, which he called "not only unwise, but also without compassion."
The shuttering of Tradition means the loss of approximately 300 jobs, many of them artists working on what was to be the studio's first feature, The Legend of Tembo.
I won't pretend I've been following everything that's been going on with Textor and Co., but this is clearly a very sad situation for all the artists who were dedicating their talents to the film.
Production on Tembo should either be restarted, as Textor suggests in his resignation letter, or else find a new home elsewhere.