Del. bankruptcy judge approves Digital Domain sale

September 25, 2012 by Randall Chase

(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 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 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.

Explore further: Director Cameron's company files for bankruptcy

0 shares

Related Stories

Director Cameron's company files for bankruptcy

September 11, 2012

(AP)—The digital production company founded by "Titanic" director James Cameron has filed for bankruptcy protection in the U.S. and Canada and reached a deal to sell its operating business to a private investment firm for ...

Eastman Kodak loss widens in 2Q

August 3, 2012

(AP) — Eastman Kodak Co. said Friday its second-quarter net loss widened as it cut costs while reorganizing under bankruptcy protection.

Internet address sex.com attracts 13-million-dollar bid

October 21, 2010

An offshore holding company is out to have its way with sex.com for 13 million dollars. Clover Holdings Limited, based on the Caribbean island of St. Vincent, made the top offer for the hot Sex.com Internet domain name that ...

Kodak gets 2013 deadline to reorganize

January 20, 2012

(AP) -- Eastman Kodak Co. has obtained a bankruptcy judge's approval to borrow an initial $650 million from Citigroup Inc. to keep operations running while it peddles a trove of digital-imaging patents.

Kodak restructures amid bankruptcy battle

January 10, 2012

US photography giant Eastman Kodak, fighting to keep bankruptcy at bay, announced Tuesday a major restructuring to speed up its transformation into a digital company.

Recommended for you

New method analyzes corn kernel characteristics

November 17, 2017

An ear of corn averages about 800 kernels. A traditional field method to estimate the number of kernels on the ear is to manually count the number of rows and multiply by the number of kernels in one length of the ear. With ...

Optically tunable microwave antennas for 5G applications

November 16, 2017

Multiband tunable antennas are a critical part of many communication and radar systems. New research by engineers at the University of Bristol has shown significant advances in antennas by using optically induced plasmas ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.