Riva Studios Emerges As Potential Buyer For Insolvent French Animation Studio TeamTO
October 29, 2024 By Amid Amidi
A potential new buyer has emerged for TeamTO, the troubled French animation studio which entered insolvency last month and whose assets are currently available for sale.
The buyer – U.S.-based Riva Studios – unlike the other three companies that are currently attempting to buy TeamTO’s assets, appears to have the backing of two of TeamTO’s co-founders Guillaume Hellouin and Corinne Kouper. Riva’s bid will be considered tomorrow alongside the other bidders in a hearing before the Commercial Court of Paris.
TeamTO first initiated discussions with Riva Studios co-founders Marco Balsamo and Tara Demren five months ago to explore collaborative opportunities. Since that time, Balsamo and Demren have assembled an acquisition team, including American producer, director, and illustrator Jay Oliva of Lex and Otis Studios. Oliva had previously worked with TeamTO on RAID: Shadow Legend – Call of the Arbiter and Infinity: Paradise Lost.