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Beijing-based Galloping Horse and India’s Reliance MediaWorks (RMW) have formed a joint venture to buy bankrupt US visual effects studio Digital Domain for $30.2m (£18.6m).
The joint venture, between RMW and a US subsidiary of the Chinese media company, outbid other companies in a bankruptcy court auction.
RMW gained a UK presence in 2010 by buying the assets of Soho film processing company iLab.
Digital Domain co-located a visual effects team at RMW’s Poland Street base in July last year.
Ministers looking to help creative and AI sectors ‘grow and innovate together’
Execs from the BBC, ITN and C4 discuss moving from proofs of concept to integrating the technology into their working practices
PBS America, QVC, AMC Networks Interantional UK and GB News will be available next year
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