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Del. bankruptcy judge approves Digital Domain sale

Tuesday - 9/25/2012, 2:00pm  ET

RANDALL CHASE
AP Business Writer

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.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)