Digital Domain's New CEO on Exporting Hollywood VFX to China

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Old 07 July 2013   #1
Digital Domain's New CEO on Exporting Hollywood VFX to China

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For the past 20 years, Digital Domain has created on-screen magic by aging Brad Pitt backwards through time or sinking historic ocean liners, but a different kind of alchemy is needed to survive in the cut-throat world of visual effects.

After emerging from bankruptcy last fall, the Oscar-winning studio behind "Titanic" and "The Curious Case of Benjamin Button" finds itself with its second owner in less than a year and it's looking to Asia for its salvation.

Hong Kong-based technology company Sun Innovation said last weekend that it had bought Digital Domain's former parent company Galloping Horse U.S. for $50.5 million. Reliance MediaWorks will continue to have a 30 percent stake in the company.

Also read: Visual Effects Company Behind 'Titanic' Sold, CEO Steps Down

Rechristened Digital Domain 3.0, it also has a new CEO in Daniel Seah, who by his own admission has almost no experience in the world of visual effects or Hollywood. Instead, he boasts a resume heavy on investment banking and business development at companies like Barclays and ambitions to revive Digital Domain by focusing relentlessly on the most important emerging market for film."

http://www.thewrap.com/movies/artic...xclusive-106546
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Old 07 July 2013   #2
The more things change the more things stay the same.

Well lets see what happens shall we?!
 
Old 07 July 2013   #3
Yeay!!! another banker in charge!
 
Old 07 July 2013   #4
It's insane to think that DD is only worth $50m when it sold

John Textor is an asshole. 300+ lose their jobs and he makes $16m in a year - 11 the previous.
 
Old 07 July 2013   #5
Originally Posted by strangerthings: It's insane to think that DD is only worth $50m when it sold

John Textor is an asshole. 300+ lose their jobs and he makes $16m in a year - 11 the previous.


No its insane to think a company was valued at hundreds of millions one moment then sold for 28 million. That shows you the real picture, like any tech firm its value is compiled from a house of cards.
I will bet a months wages DD has now sold for an increased sum because Enders Game has been delivered which DD has an vested interest in. The perception is it will do well therefore give a return over XX years to the buyer.

b
 
Old 07 July 2013   #6
Originally Posted by mr Bob: No its insane to think a company was valued at hundreds of millions one moment then sold for 28 million. That shows you the real picture, like any tech firm its value is compiled from a house of cards.
I will bet a months wages DD has now sold for an increased sum because Enders Game has been delivered which DD has an vested interest in. The perception is it will do well therefore give a return over XX years to the buyer.



So basically the price of a company is arbitrary? Not that I'm surprised since I never understand economics at all since there is no gold standard anymore in the Federal Reserve so a bunch of trees are turned into money and given a "value." Yet the value of gold is given a price tag on the stock market further doesn't make sense either...
 
Old 07 July 2013   #7
Originally Posted by ebbandflow: So basically the price of a company is arbitrary? Not that I'm surprised since I never understand economics at all since there is no gold standard anymore in the Federal Reserve so a bunch of trees are turned into money and given a "value." Yet the value of gold is given a price tag on the stock market further doesn't make sense either...


Gold and DD (and pretty much everything else) are worth whatever someone will give in exchange for them. Gold is worth ~$1325 an ounce because most people who want to have gold believe it's worth exchanging $1325 to have an ounce of gold. Similarly, a candy bar is considered to be worth about $1, because that is what people will pay for that. DD is apparently worth $50m because someone was willing to part with 50 million american dollars in order to have it. That's essentially all there is to it, the rest is just reasons and theorizing as to why someone would want x value for y item.
 
Old 07 July 2013   #8
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