The sale is subject to execution of an asset purchase agreement and approval by the U.S. bankruptcy court, which will hold a hearing today (September 24) on this and other matters. According to The Indian Express, Reliance MediaWorks issued a statement saying that the purchase includes DDMG's co-production stake in Ender's Game and that all acquired businesses "will continue to operate in the normal course, with the joint venture assuming ownership upon court approval."
The outcome of this bankruptcy auction is possibly good news for Digital Domain, its remaining businesses and employees. Galloping Horse and RMW are global, strong companies with a combined enterprise value of $25 billion, and the outstanding quality of Digital Domain's visual effects work has never been questioned. However, we don't know how the Ender's Game producers, OddLot Entertainment and Lionsgate/Summit feel about parterning with Chinese and Indian companies for the Ender's Game franchise. If they have concerns they will make those heard at the court hearing today.
Let's hope that this newfound financial strength will translate into fair treatment and compensation for the fired staff. Just this Saturday hundreds of former DDMG employees held a yard sale, selling their belongings in an effort to raise enough money to move to California, where most of the country's visual effects industry is located.