from the internets: Digital Domain’s stock sinking faster than the Titanic

By Mike Valiquette

(see what I did there?)

A few months ago, the internets were in an uproar over US-based FX house Digital Domain and their new business model, involving student labour, government money, and comments made by CEO John Textor.  We snagged half an interview with Textor, but that was it.  Well, reports are coming in that things may not be playing out quite the way John hoped they would.  Variety has coverage here.  The company defaulted on a 35 million dollar loan, and is in talks with lenders and partners to find a way to meet their obligations.  All this has led to a stock drop of nearly 32% to a new low of $1.41.  This brigs the cumulative stock drop to 75 % in four months.

Cartoon Brew, of course, is providing coverage.  Amid’s really following this story (which he’s happy to point out).  And the source of all this, VFX Soldier, continues to be very active in the discussion, including Digital Domain co-founder Scott Ross participating in their comments section.

There are all kinds of wrinkles to this story: mounting debt, student labour, and now Textor himself has a legal complaint lodged against some cyberstalkers.  For reals.

 

 

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