DNEG to Become Publically Traded Company in $1.7B Deal.

The Matrix Revolutions - Image copyright to Warner Bros.

News broke on the 25th January 2022 via many main stream news channels that DNEG is set to become a publically traded company. One of the first in the Animation and Visual Effect industry. You can read DNEG’s offical statement here.

Sports Ventures Acquisition Corp, a publicly-traded special purpose acquisition company, have annouced they are entering into the multi-billion dollar deal and the two spereate companies will combine to use the DNEG brand name.

“We are perfectly positioned to exploit massive new opportunities in the metaverse and the convergence of all forms of content creation,” DNEG chairman and CEO Namit Malhotra, who will lead the combined companies after the merger is completed, said in a statement.

- Hollywood Reporter

You can read more about the story more on various news sites:

Business Wire
Hollywood Reporter
Wall Street Journal

The question is, what does this mean for workers at DNEG both locally and internationally? How will things change as they become a publicly traded company? Will driving up profits be a priorirty to favour new investors in the studio and if so, where will that squeeze come from? It’s something to keep an eye on and make sure working conditions stay the same, if not improve at the company. Especially as DNEG announce their paid overtime policy last year.

The deal is expected to close in the first half of 2022.

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