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Old 07-29-2013, 10:49 PM   #1
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Variety: Mysterious Billionaires and Back-Door Deals: Inside the Sale of DD

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" The acquisition of Digital Domain 3.0 Saturday by a Hong Kong-based scrap-trading company is in reality just the public face of a complex, long-gestating deal financed by a mysterious Chinese investor whose name is rarely uttered by his associates and advanced by an investment bank that wants to turn DD into Hollywood’s gateway to China.

Variety spoke with new DD CEO Daniel Seah, and two former DD executives with knowledge of the deal. What emerged is a complex series of transactions, none of which is exactly what appears on the surface, aimed at restoring enough financial resources to DD for it to once again pursue major features — though its future in Los Angeles is in doubt.



The winding path to DD’s new ownership begins well before its fall 2012 bankruptcy. In early 2012, Beijing Galloping Horse already had a small ownership stake in Digital Domain Media Group, the parent company of the DD visual effects operation. Galloping Horse chief Ivy Zhong saw DD as an acquisition opportunity."

http://variety.com/2013/biz/news/in...ion-1200568954/
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Old 07-29-2013, 10:49 PM   #2
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