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Del. bankruptcy judge approves Digital Domain sale
DOVER, DEL. (AP) - A Delaware bankruptcy judge has approved the sale of a digital production company founded by film director James Cameron.
The judge signed off Tuesday on the sale of Digital Domain Media Group Inc. to a joint venture between a Chinese media company and an Indian counterpart after attorneys resolved contractual issues involving NBCUniversal and a dispute over tax obligations in St. Lucie County, Fla., where the company is based.
U.S. subsidiary of Beijing Galloping Horse Film & TV Co. and Mumbai-based Reliance MediaWorks submitted a winning bid of $30.2 million.
Digital Domain has produced visual effects for movies including “Titanic,” “Pirates of the Caribbean: At World’s End” and the “Transformers” series.
The company, which received millions of dollars in incentives from Florida officials, sought bankruptcy protection two weeks ago.
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