ON Animation Studios, known for films such as "Ladybug & Cat Noir: The Movie" and "The Little Prince," has closed. The Montreal-based company, founded by Aton Soumache and Dimitri Rassam in 2012 and acquired by Mediawan in 2017, attracted international talent and benefited from Quebec's tax incentives. However, these benefits were curtailed by new government measures, leading to a reduction in tax credits. ON Animation announced via LinkedIn that it is closing, while Mediawan said it will continue to work on animation projects through other locations.

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