Fox Cuts Animation

According to Reuters News Wire, following the less than spectacular performance of Titan A.E. at the box office, 20th Century Fox has announced that it will be closing its Phoenix, AZ animation facility. The studio had already laid off two-thirds of its 320 employees last February, but now the studio plans to close its Phoenix operation completely.

“It clearly is a tough marketplace,” admitted Chris Melendandri, president of Fox Animation.

In its six years of existence, the Fox animation unit produced two films: Anastasia and Titan A.E. Although Anastasia was well received, it earned just $58.4 million. The $80 million-budgeted Titan A.E. has earned just $16.9 million after two weeks of release.