A bankruptcy judge has approved the sale of a digital production company founded by film director James Cameron.
The Delaware judge signed off on Tuesday (local time) on the sale of Digital Domain Media Group Inc. to a joint venture between a Chinese media company and an Indian counterpart after attorneys resolved contractual issues involving NBCUniversal and a dispute over tax obligations in St. Lucie County, Florida, where the company is based.
US subsidiary of Beijing Galloping Horse Film & TV Co. and Mumbai-based Reliance MediaWorks submitted a winning bid of US$30.2 million (NZ$ 36.8 million).
Digital Domain has produced visual effects for movies including Titanic, Pirates of the Caribbean: At World's End and the Transformers series.
The company, which received millions of dollars in incentives from Florida officials, sought bankruptcy protection two weeks ago.
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