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Digital Domain Media Group Inc Gets $30 Million Bid In Bankruptcy Auction From Galloping Horse And Reliance Broadcast Network Limited's JV-Reuters


Monday, 24 Sep 2012 09:46am EDT 

Reuters reported that a joint venture (JV), led by the U.S. units of Chinese media company Beijing Galloping Horse Film & TV Production Co Ltd and India's Reliance Broadcast Network Limited, has submitted the winning bid to acquire some of its businesses and assets for $30.2 million. The other bidders who took part in the auction were Anchorage Illiquid Opportunities Master Offshore III LP, whose bid was chosen as the backup bid, and Technicolor Creative Services USA Inc. The sale of its visual effects and some other businesses and assets is subject to execution of an asset purchase agreement and bankruptcy court approval, Digital Domain said in a statement. Galloping Horse America holds a 70% stake in JV while Reliance MediaWorks holds 30%. 

Company Quote

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31 Jul 2014