Bankruptcy Judge Approves Digital Domain Sale

By: Associated Press Email

Posted: Tue 2:22 PM, Sep 25, 2012

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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