Friday, September 28, 2012

Clear Sailing

No surprise, but the new owners pledge new life for Digital Domain.

... Galloping Horse America, a division of a Beijing media company, and Reliance MediaWorks, part of the Indian conglomerate Reliance Group, [bought] Digital Domain's visual effects studios in Venice, Calif., and Vancouver, Canada, for $30.2 million.

The deal closed Thursday and effectively removes Digital Domain from a potentially protracted Chapter 11 bankruptcy filing by its parent company in Florida this month. That filing caused the near-shutdown of the company's new animation building in Port St. Lucie, Fla., laying off most of its 320 workers. ...

No clear word about what happens to the Florida animation studio, and whether it follows the earlier Fleischer studios (and Disney Animation Florida) into oblivion.

We'll have to wait and see.


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Chris Sobieniak said...

A shame when animation can't stay in Florida for long.

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