Yesterday, there were a flurry of reports that the beloved Japanese animation company Studio Ghibli was shutting down. For those unfamiliar with the studio, it was founded in 1985 by directors Hayao Miyazaki (Spirited Away) and Isao Takahata (Grave of the Fireflies) and producer Toshio Suzuki (The Wind Rises). In addition to producing all of Miyazaki’s classic films since 1986′s Castle in the Sky, the studio has also played host to a collection of other talented filmmakers. It’s no surprise that the studio’s closing was met with an outpouring of grief.
However, Ghibli isn’t closed just yet. That being said, it’s no longer going to remain in its current form. Hit the jump for more.