Netflix plans to acquire Lego movie studio Animal Logic

Netflix plans to acquire animation studio Animal Logic, known for producing hits like “Happy Feet” and “The Lego Movie,” Netflix announced its second-quarter 2022 earnings on Tuesday.

Netflix wrote in its second quarter 2022 shareholder letter: "Today, we announced that we will acquire Animal Logic, an industry-leading animation studio with approximately 800 talented employees primarily based in Sydney and Vancouver, which will help us accelerate the development of our animation production capabilities and strengthen our commitment to building a world-class animation studio."

The two companies have already collaborated on The Magician's Elephant, due out in 2023, and Ron Howard's first animated film, The Shrinking of Treehorn. The acquisition is expected to close this year, according to the press release.

Netflix will continue to produce its animated shows, including a recently announced series based on the Exploding Cats card game, set to premiere next year, but in May it also cut 70 part-time jobs at its animation studio and scrapped some animated projects, Variety reported.

Animal Logic has worked on all of the LEGO Movie feature films, including The LEGO Batman Movie and The LEGO Ninjago Movie.