Anil Ambani’s Reliance MediaWorks, part of ADAG Group, has submitted a winning bid of $30.2 million to part-own some of the businesses of James Cameron’s Digital Domain Productions.
The bid was submitted in association with Galloping Horse, a leading firm in China engaged in film and TV financing, production, distribution, advertising and publishing. It recently added cinema construction, new media, animated content and talent management to its portfolio.
Reliance MediaWorks will now hold a 30 percent stake and Galloping Horse the rest.
The two companies will acquire all assets constituting the businesses of Digital Domain in feature films, advertising, visual effects, commercial production, studios in the US and Canada and a co-production stake in the feature film Ender’s Game.
Digital Domain was founded in 1993 by director Cameron, Stan Winston and Scott Ross, has provided the innovative visuals for over 90 movies, including Titanic, Pirates of the Caribbean: At World’s End, Transformers trilogy and Tron: Legacy.