In 1977 Rankin Bass released their version of an animated THE HOBBIT film on television in 1977. The studio they used was a Japanese firm called TOPCRAFT. In 1985 they went bankrupt. However, all their assets and animators were bought by Hayao Miyazaki and reformed as STUDIO GHIBILI where he went to produce their first feature: NAAUSICA in the VALLEY OF THE WIND thus kickstarting a long string of animated features known world wide.
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