China’s Beijing Galloping Horse has won the bid for the animated film The Legend of Tembo pending court approval, according to a report by Florida news outlet TCPalm [1].
Digital Domain Media Group’s assets were up for auction yesterday, Wednesday, November 28, in New York City. Among the auction items was the studio’s animated feature, The Legend of Tembo, which was submitted by co-producer and co-director Chuck Williams and his partner Aaron Blaise.
Sales are set to be finalized at 1:00pm on December 4 by U.S. Bankruptcy Judge Brendan L. Shannon in Wilmington, Delaware, where the bankruptcy proceedings are being held.
Williams, Blaise and other business partners including former Digital Domain Media Group CEO John Textor, had planned to bid on the movie rights. Williams has said he wanted to rehire the crew and finish the film in Port St. Lucie.
Beijing Galloping Horse also combined with Reliance MediaWorks, based in Mumbai, India, to purchase the visual/special effects portion of Digital Domain Media Group, Digital Domain Productions in California, for $30.2 million. Digital Domain Productions has emerged from bankruptcy and is working on previously contracted projects while the rest of the company is auctioned and continues through bankruptcy proceedings.
Links:
[1] http://www.tcpalm.com/news/2012/nov/28/legend-tembo-auctioned/