Joint Venture To Pay $37M For 'Titanic' Effects Firm

Law360, Wilmington (September 24, 2012, 8:36 PM EDT) -- A Delaware bankruptcy judge agreed Monday to approve the sale of Digital Domain Media Group Inc. to a joint venture of Chinese and Indian media companies after they agreed to pay nearly $37 million for most of the special-effects house's assets at a Friday auction.

The sale of DDMG, creator of digital effects for films such as “Titanic” and “Transformers,” to U.S. subsidiaries of Beijing Galloping Horse Film Co. Ltd. and Mumbai-based Reliance Capital Ltd. winds up a whirlwind process that began with the cash-strapped company's...
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