XTR, a major production company for film, managed to acquire a new company. Late Night Labs, an animation studio, was picked up by XTR. 

Late Night Labs utilizes AI in its productions, which has been a hot-button topic as of late. However, they’ve been praised for their creativity and ingenuity within their field, using AI as a tool for storytelling, and have been said to prioritize the vision of their artists. 

Reportedly, XTR is going to use the opportunities given to them by the Late Night Labs acquisition to set up a new production company. Late Night Labs’ experience in animation will be useful for it, as the newly minted Asteria Film Company will put out animated features, among other types of projects. 

XTR will still continue with their usual slate while Asteria looks to the animated projects. 

One of the co-founders of Asteria, Bryn Mooser, spoke on the current thought process of AI’s utilization in entertainment, stating that it could be a substantial jump for the way films are crafted. 

“It is in these moments of change that the future gets written. And we want to make sure we help shape this moment responsibly and in service of the artists, not the other way around,” he said, according to Variety.

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