Digital Domain Media Group Sells 3D Patents to RealD for $5.45 Million
Tying up one loose thread from the bankruptcy of Digital Domain Media Group (DDMG) earlier this year, the company sold its portfolio of patents covering 2D-to-3D-conversion technology to 3D-exhibition specialist RealD for $5.45 million.
The 3D conversion patents represent the last major DDMG asset to be auctioned, bringing the most expansive chapter in the VFX giant's history to date to an awkward close. Longtime executive Ed Ulbrich is now heading up what he calls "Digital Domain 3.0" — the continuation of DD's core VFX services business on the West Coast, which is now owned by China's Galloping Horse and India's Reliance MediaWorks. DD's 37.5 percent equity share in Ender's Game, now in post-production, remains with DD 3.0.
The future of the Digital Domain Institute, which was set up in collaboration with Florida State University (FSU), is still up in the air, according to The Palm Beach Post, which reports that the city of West Palm Beach is considering kicking in additional financial support to help convince FSU to keep the classrooms open despite the collapse of plans to build a large VFX school there.
See the full story here: http://www.studiodaily.com/2012/12/digital-domain-media-group-sells-3d-patents-to-reald-for-5-45-million/