, which had balance sheet assets of around USD205m and balance sheet liabilities of about USD214m as of 30 June 2012, launched a strategic realignment on 7 September expected to allow it to focus on its core business Digital Domain Productions Inc, the company said.
was expected to develop a purpose-built 150,000 square foot entertainment production complex that was due to be operational by the end of 2015 and recruit around 500 people to run the facility.
Many are to be thanked for their incredible efforts to achieve this milestone," said Mike Katzenstein, DDMG
, Chief Restructuring Officer.
Wayne Borg, deputy CEO and COO of twofour54 with John Textor of DDMG
The lawsuit names as defendants certain DDMG
officers, along with the managing underwriters of the Company's initial public offering of November 18, 2011 (the "IPO" or "Offering").
will begin production of visual effects and animation in studios in twofour54 at the beginning of 2013, with plans to recruit and hire staff immediately from local and international talent pools.
Searchlight"), who as previously announced has entered into a purchase agreement with DDMG
to acquire Digital Domain Productions and its operating subsidiaries in the United States and Canada ("DDPI"), including Mothership Media ("Mothership"), has reasserted its aspiration to acquire the visual effects business of DDPI and Mothership.
also announced that it has entered into a purchase agreement with Searchlight Capital Partners L.
As a key part of this strategic realignment, DDMG
has begun the cessation of its Port St.
also converts two-dimensional (2D) imagery to three-dimensional (3D) imagery and holds key patents in this area.
Students learn from professional artists and trainers working at DDMG
studios and also have the opportunity to apply their skills in a practical environment, with the potential to earn internships on the production of the major feature films underway at DDMG
announced an exclusive agreement with The Apollo Group's Core Media to jointly develop, produce and own a series of "virtual" Elvis Presley likenesses for a range of entertainment projects - from shows and appearances to film, TV and multi-platform productions throughout the world.