China, India companies beat PE to Digital Domain assets
China’s Galloping Horse Film and India’s PE-backed Reliance MediaWorks have teamed up to acquire assets from Digital Domain Media Group, the distressed Hollywood special effects company, for $30.2 million. The Sino-Indian joint venture easily outmatched a $15 million offer put in by Searchlight Capital Partners.
Galloping Horse holds 70% of the joint venture to Reliance MediaWorks' 30%. The assets they have bought include visual effects studios in Venice, Los Angeles and Vancouver, Canada. Their agreement with...
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