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ENTERTAINMENT
September 23, 2012 | By Richard Verrier
A joint venture led by Chinese film and TV company Galloping Horse has submitted a winning bid to acquire one of Hollywood's leading visual effects studios. Galloping Horse America, a division of the Beijing-based media company, has partnered with Reliance MediaWorks, the post-production company that is part of the Indian conglomerate Reliance ADA, to buy Digital Domain's visual effects studios in Venice and Vancouver, Canada, for $30.2 million. The bid potentially marks the latest acquisition of a U.S. media company by a Chinese firm.
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ENTERTAINMENT
August 12, 2013 | By Richard Verrier
Seeking to assuage concerns about management stability at Digital Domain, the new owners of the struggling visual effects company announced promotions of two veteran executives. Following the recent resignation of the respected Ed Ulbrich as chief executive officer, the Venice-based studio, which now goes by the name Digital Domain 3.0, said Monday it has promoted Terry Clotiaux to president of its feature film production division and Rich Flier to president of its advertising and games division.
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ENTERTAINMENT
September 28, 2012 | By Richard Verrier
Digital Domain, the once-storied visual effects house co-founded by director James Cameron, has emerged from bankruptcy with new Chinese and Indian owners vowing to expand the Los Angeles-based studio. Digital Domain Media Group announced Sunday that it had accepted a bid from Galloping Horse America, a division of a Beijing media company, and Reliance MediaWorks, part of the Indian conglomerate Reliance Group, to buy the company's visual effects studios in Venice, Calif., and Vancouver, Canada, for $30.2 million.
BUSINESS
October 15, 2012 | By Richard Verrier, Los Angeles Times
Venkatesh Roddam may be the world's most renowned outsourcing executive. But the 48-year-old native of Hyderabad, India, thinks conventional outsourcing is a bad idea when it comes to the movie business. Roddam, a former chief executive of a leading Indian consulting company that provided offshoring services to the pharmaceutical, finance and telecom industries, is now in charge of Reliance MediaWorks' film and media services business. The Mumbai, India, entertainment company is bulking up its business in Los Angeles; it is one of several Indian and Chinese companies that have established beachheads in California.
BUSINESS
October 15, 2012 | By Richard Verrier, Los Angeles Times
Venkatesh Roddam may be the world's most renowned outsourcing executive. But the 48-year-old native of Hyderabad, India, thinks conventional outsourcing is a bad idea when it comes to the movie business. Roddam, a former chief executive of a leading Indian consulting company that provided offshoring services to the pharmaceutical, finance and telecom industries, is now in charge of Reliance MediaWorks' film and media services business. The Mumbai, India, entertainment company is bulking up its business in Los Angeles; it is one of several Indian and Chinese companies that have established beachheads in California.
ENTERTAINMENT
August 12, 2013 | By Richard Verrier
Seeking to assuage concerns about management stability at Digital Domain, the new owners of the struggling visual effects company announced promotions of two veteran executives. Following the recent resignation of the respected Ed Ulbrich as chief executive officer, the Venice-based studio, which now goes by the name Digital Domain 3.0, said Monday it has promoted Terry Clotiaux to president of its feature film production division and Rich Flier to president of its advertising and games division.
BUSINESS
July 13, 2011 | Richard Verrier, Los Angeles Times
Hollywood is becoming even more reliant on one of India's biggest media companies. Reliance MediaWorks, a division of Indian conglomerate Reliance ADA Group, said late Monday that it has partnered with the Venice visual effects house Digital Domain Productions Inc. to open studios in London and Mumbai, underscoring the increasingly global nature of California's visual effects industry. The new studios will provide a variety of postproduction services for movies, TV shows and commercials.
ENTERTAINMENT
March 28, 2013 | By Richard Verrier
A company tied to the Los Angeles-based effects and animation studio Prana Studios has beat out other bidders to acquire Rhythm & Hues, the Oscar-winning visual effects house that filed for bankruptcy protection last month, a source close to the deal said Thursday night. The sale, terms of which were not disclosed, is subject to approval by the U.S. Bankruptcy Court at a hearing on Friday morning. If approved by the court, the sale would end a closely watched auction of one of Hollywood's best known visual effects companies whose financial woes have come to symbolize the challenges faced by an industry that was pioneered in California.
ENTERTAINMENT
May 20, 2012 | By Richard Verrier
Digital Domain, the award-winning visual effects company behind the blockbuster “Transformers” films and “Tron: Legacy,” is expanding into the Middle East with plans to open a 150,000-square-foot production studio in Abu Dhabi in 2015. Parent company Digital Domain Media Group, of Port St. Lucie, Fla., said Sunday night that it was partnering with Abu Dhabi government-backed media and entertainment company twofour54 to build a studio that would create English- and Arabic-language animated movies targeted at Middle Eastern audiences, as well as produce visual and 3-D effects.
ENTERTAINMENT
June 10, 2013 | By Richard Verrier
Dalian Wanda Group's $2.6-billion acquisition of theater operator AMC Entertainment last year may be just the beginning of a new wave of deal making between the U.S. and China. That's one of the key findings from a new survey of American and Chinese investors that predicts an increase in mergers and acquisitions over the next year in the entertainment, advertising and digital media sectors in the U.S. and China. The report, conducted by the research firm Mergermarket and commissioned by the law firm Manatt, Phelps & Phillips, was based on interviews with more than 100 American and China business executives, investors and analysts.
ENTERTAINMENT
September 28, 2012 | By Richard Verrier
Digital Domain, the once-storied visual effects house co-founded by director James Cameron, has emerged from bankruptcy with new Chinese and Indian owners vowing to expand the Los Angeles-based studio. Digital Domain Media Group announced Sunday that it had accepted a bid from Galloping Horse America, a division of a Beijing media company, and Reliance MediaWorks, part of the Indian conglomerate Reliance Group, to buy the company's visual effects studios in Venice, Calif., and Vancouver, Canada, for $30.2 million.
ENTERTAINMENT
September 23, 2012 | By Richard Verrier
A joint venture led by Chinese film and TV company Galloping Horse has submitted a winning bid to acquire one of Hollywood's leading visual effects studios. Galloping Horse America, a division of the Beijing-based media company, has partnered with Reliance MediaWorks, the post-production company that is part of the Indian conglomerate Reliance ADA, to buy Digital Domain's visual effects studios in Venice and Vancouver, Canada, for $30.2 million. The bid potentially marks the latest acquisition of a U.S. media company by a Chinese firm.
BUSINESS
July 13, 2011 | Richard Verrier, Los Angeles Times
Hollywood is becoming even more reliant on one of India's biggest media companies. Reliance MediaWorks, a division of Indian conglomerate Reliance ADA Group, said late Monday that it has partnered with the Venice visual effects house Digital Domain Productions Inc. to open studios in London and Mumbai, underscoring the increasingly global nature of California's visual effects industry. The new studios will provide a variety of postproduction services for movies, TV shows and commercials.
ENTERTAINMENT
October 26, 2013 | By Richard Verrier
Digital Domain, the visual-effects company that is co-producing the Lionsgate movie "Ender's Game," invested about $17 million in cash to help produce the much-anticipated movie, two former company executives said. In a highly unusual move, the pioneering visual-effects house -- co-founded by director James Cameron in 1993 -- is co-producing "Ender's Game," which hits theaters on Nov. 1, with OddLot Entertainment and Summit Entertainment. The big-screen adaptation of the popular 1985 book of the same name by Orson Scott Card, is among the most expensive independent movies ever made, with a budget of more than $100 million.
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