PORT ST. LUCIE, Fla., December 14, 2011 – Digital Domain Media Group, Inc. (NYSE: DDMG), a leading digital production company focused on visual effects, original content animation and major studio co-productions, today launched its expansion into the high growth China film market with the announcement of the company’s first strategic partnership in China. The partnership between Beijing Galloping Horse Film Co., Ltd. and Digital Domain represents the first large scale initiative of a global visual effects industry leader to address China’s quickly increasing demand for high-end, American-driven film production values, including the very best of visual effects and animation imagery. The venture also serves to expand DDMG’s industry-leading global footprint of the highest quality animation, achieved at the lowest possible cost.
The new Digital Domain – Galloping Horse Studio will provide visual effects, animation and production services for motion pictures, television and related media. The company expects that the facility in China will be comparable in scale to the company’s nearly completed animation studio in Port St. Lucie, Florida, a facility that was funded by the city with an investment of approximately $50 million for land and building.
Digital Domain Media Group and Beijing Galloping Horse Film Co. will each own 50 percent of The Digital Domain – Galloping Horse Studio. Digital Domain Media Group will contribute its technology and expertise in operating a VXF operation and will be responsible for designing the facility and for training personnel. Beijing Galloping Horse Film Co. will provide the land for the Studio and will be responsible for the construction and build-out costs for the new facility. Galloping Horse will also lead related fundraising for the venture in the greater China capital markets.