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July 28, 2015 3:09 PM ET

Media

Company Overview of Digital Domain Media Group, Inc.

Company Overview

Digital Domain Media Group, Inc., a digital production company, engages in the creation of original content animation feature films, and development of computer-generated imagery (CG) for feature films and transmedia advertising primarily in the United States. The company’s digital production business provides end-to-end solutions across multiple media platforms spanning various content production processes from idea generation and pre-production to design, directing, live-action production, and post-production. Its digital production business has three digital production business units comprising Digital Domain Productions that provide visual effects (VFX) for feature films and advertising;...

10250 SW Village Parkway

Port St. Lucie, FL 34987

United States

Founded in 1993

933 Employees

Phone:

772-345-8000

Key Executives for Digital Domain Media Group, Inc.

Digital Domain Media Group, Inc. does not have any Key Executives recorded.

Digital Domain Media Group, Inc. Key Developments

Digital Domain Media (HK) Limited to Form Joint Venture with TNT Production Limited

Digital Domain Media (HK) Limited, an indirect wholly-owned subsidiary of Digital Domain Holdings Limited, has entered into a co-operation joint venture framework agreement with TNT Production Limited for the formation of the joint venture company to engage in the production and utilization of 3-D holograms of Teresa Teng using digital 3-D technology and the exploitation of the new holograms in the entertainment business, including concerts, albums, movies and advertisements. All the companies are based in Hong Kong. TNT is to grant intellectual property rights (IP rights) to the JV to use Teresa Teng image to create 3-D holograms, while DDM is to make proportionate capital contribution in cash based on the valuation of such IP rights, subject to a capitalization of HKD60 million ($7.73 million). The JV is to be owned as to 60% by DDM and 40% by TNT. The JV is part of DDM's business strategy of expanding its principal business into the media entertainment sector.

The State of Florida Files a Lawsuit against Digital Domain Media Group, Inc. to Recover $20 Million

The state of Florida on July 22, 2014 filed a lawsuit to recover $20 million invested in the Digital Domain Media Group, Inc., which filed for bankruptcy in 2012. The lawsuit against the company and a number of other entities contends that the company defrauded the state out of $20 million in seed money by misrepresenting its debt problems and other allegedly fraudulent acts. Digital Domain had promised to create about 500 jobs at a Port St. Lucie animation studio and a West Palm Beach film school, but its shutdown resulted in 280 layoffs.

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