The agency has signed new client Digital Domain 3.0 as the visual effects company continues to bounce back out of a 2012 bankruptcy. Digital Domain’s current iteration was acquired last year by Sun Innovations which appointed …
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.
Global Showbiz Briefs: Australian Actors, BCE Plans Online Movie Service, Legend 3D & Digital Domain
Aussie Actors Win a Share of North American Revenues
Australian actors who work in local feature films will get a 3.6% royalty from North American distributors’ gross receipts four years after films are first exploited in that market under a new Actors Feature Film Agreement (AFFA). The budget of Australian films in which one or more SAG members are employed also has been raised from $A15 million ($15.5 million) to $22.5 million under the deal negotiated between Equity and representatives of the Screen Producers Association of Australia (SPAA). The new agreement, backdated to January 2012, gives Aussie actors a 17.5% wage increase over 5 years.