Galloping Horse acquires Digital Domain assets
Digital Domain assets have been acquired by Galloping Horse.
Digital Domain assets have been acquired by Galloping Horse at an auction held in New York on Friday (September 21st).
The company paid just over $30 million (£18.5 million) for the visual effects business Mothership Media and certain other businesses and assets of Digital Domain Productions.
Feature film and advertising visual effects, commercial production and virtual humans studios in California and Vancouver, Canada, are among the assets to have been sold to Galloping Horse.
Vice-chairman and managing director of Beijing Galloping Horse Ivy Zhong described Digital Domain as a "legend" in the industry, adding: "We are thrilled to have found a partner in Reliance MediaWorks that is as committed as we are to ensuring Digital Domain's continued excellence and success."
Chief executive officer of the Film & Media Services department at Reliance MediaWorks Venkatesh Roddam explained the company has a "wonderful" working relationship with Digital Domain.
Galloping Horse is a leading company in the film and TV industry in China and the organisation has nearly 20 years of industry experience.
Posted by Edel Quinn
Source: Galloping Horse America press release, September 23rd