China’s Galloping Horse Joins With Reliance MediaWorks To Buy Digital Domain

Earlier this month, a bankruptcy judge fast-tracked an auction for financially troubled special effects company Digital Domain. On Sunday, the James Cameron-founded business announced that a joint venture between Galloping Horse America and Reliance MediaWorks will acquire Digital Domain Productions and subsidiary Mothership Media for $30.2M. Under the agreement, Chinese film and TV company Galloping Horse and India’s Reliance will pick up all the of the groups’ business assets including feature film and advertising visual effects, commercial production, studios in California and Vancouver and a co-production stake in Lionsgate’s Ender’s Game of which Digital Domain has been a co-producer. Galloping Horse holds a 70% stake with Reliance MediaWorks taking 30%. “This is a great day for Digital Domain,” said CEO Ed Ulbrich. “Our new partners have incredible strength and reach in the global entertainment marketplace. (more…)

This article was printed from https://deadline.com/2012/09/chinas-galloping-horse-joins-with-reliance-mediaworks-to-buy-digital-domain-342330/