PORT ST. LUCIE, Fla. & MUMBAI, India--(BUSINESS WIRE)--Jul. 27, 2012--
Digital Domain Media Group (NYSE: DDMG) announced today that Reliance
MediaWorks, an Indian film and entertainment services company and a
member of the Reliance Group, has joined DDMG’s 3D technology licensing
program. Through its licensing of DDMG’s technology, Reliance MediaWorks
will leverage processes patented by DDMG to provide stereo 3D conversion
services to feature films. Reliance MediaWorks, also Digital Domain’s
preferred visual effects production partner in London and Mumbai, joins
Prime Focus World and Samsung Electronics Co., Ltd, who have also
licensed DDMG’s 3D technology for 2D-3D conversion services and consumer
electronics respectively.
Through its wholly owned subsidiary, the Digital Domain Stereo Group,
DDMG owns the six U.S. patents that represent the original commercially
feasible computerized process for converting 2-dimensional filmed
imagery into 3-dimensional stereoscopic imagery. The DDSG patents
provide fundamental coverage of any modern 2D to 3D conversion process.
The patents principally involve rotoscoping (i.e., computerized,
semi-automatic and semi-automatic conversion with roto), and relate to
any conversion process that includes horizontal image displacement /
transform. Beginning with its license to Samsung Electronics in late
2011, DDMG made its patent portfolio available to select companies in
the broader industry through a studio-friendly licensing program.
“We have made clear our view that, while down-line technologies are
certainly important, the current 3D feature film businesses is
principally dependent on image capture and image creation, either the
proprietary technology of native 3D camera pioneers, such as the Cameron
Pace Group, or the 3D stereoscopic conversion pioneers of
In-Three/Digital Domain,” commented John Textor, chairman and CEO of
Digital Domain Media Group, “We continue to be pleased with our new
licensing efforts as important global companies, such as Samsung and
Reliance, recognize the value of our invention. We look forward to an
increasing financial participation in the growing 3D industry that we
helped to create.”
About Reliance MediaWorks Ltd
Reliance MediaWorks Limited is a film and entertainment services company
and a member of the Reliance Group.
Reliance MediaWorks offers end to end integrated services across the
entire film and media services value chain to production houses, studios
and broadcasters. The Company has comprehensive presence in Film and
Media Services: Motion Picture Processing and DI; Film, Audio
Restoration and Image Enhancement; 3D; Digital Mastering: Studios and
Equipment rentals; Visual Effects; Animation; Broadcast and TVC Post
Production with presence across India, USA and The UK.
Reliance MediaWorks operates BIG Cinemas, India's largest cinema chain
with over 490 screens spread across India, the United States, Malaysia
and Nepal and catered to approximately 4 million customers in the 12
months ended March 31, 2012.
Reliance MediaWorks’ television venture, BIG Synergy, is engaged in the
television programming industry. www.reliancemediaworks.com
About The Reliance Group
The Reliance Group is a diversified business Group with a strong brand,
level of experience and position in India and overseas.
The interests of the Reliance Group range from communications (Reliance
Communications) and financial services (Reliance Capital Ltd), to
generation, transmission and distribution of power (Reliance Energy),
infrastructure and entertainment. www.relianceadagroup.com
About Digital Domain Media Group
Digital Domain Media Group (DDMG: NYSE) leverages its expertise in
digital visual effects (VFX) and computer-generated (CG) animation
across a group of interrelated businesses. At its foundation is Digital
Domain Productions (DDPI), an award-winning digital production company
founded in 1993. This leading provider of visuals has contributed to
more than 90 major motion pictures, including Titanic, the Transformers
series, Pirates of the Caribbean: At World’s End and TRON:
Legacy, hundreds of commercials, and recently created the virtual
likeness of rapper Tupac Shakur for Dr. Dre’s show at the Coachella
Valley Music Festival. Mothership, a DDPI subsidiary, focuses on
creating advertising, entertainment and branded content from concept to
completion, across multiple media platforms. DDMG, its work and its
employees have been recognized with numerous awards, including seven
from the Academy of Motion Picture Arts and Sciences. The company is
building on its success in VFX to participate as a co-producer in major
productions and is currently co-producing the upcoming live-action
sci-fi feature film Ender’s Game, as well as virtual likenesses
for Elvis Presley that will be jointly owned by CORE Media Group and
DDMG. DDMG also converts two-dimensional (2D) imagery to
three-dimensional (3D) imagery and holds key patents in this area. The
company is also applying its CG expertise to produce original,
family-friendly animated feature films at its subsidiary Tradition
Studios. The first movie, The Legend of Tembo, is in
pre-production and two more features are in development. The company’s
education subsidiary, the Digital Domain Institute, sets a new standard
in digital media education through a pioneering public-private
partnership with The Florida State University College of Motion Picture
Arts. DDMG is expanding its worldwide footprint of the highest quality
visual effects and animation at the lowest possible cost through global
partnerships in India and China. The company has studios in Los Angeles,
San Francisco, Florida, Vancouver, Mumbai and London, and is currently
establishing studios in Beijing and Abu Dhabi. http://www.ddmg.co
Note: Reliance MediaWorks is proposing, subject to market conditions
and other considerations, an offer on rights basis through an issuance
of its equity shares and is proposing to file a Draft Letter of Offer
with the Securities and Exchange Board of India.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50357117&lang=en
Source: Digital Domain Media Group
Digital Domain Media Group
Media Contact:
Julie
Miller, 310-664-3412
Director, Communications and Marketing
jmiller@d2.com
or
Investor
Contact:
Shannon Burns, 772-345-8105
Vice president,
Investor Relations
sburns@media.d2.com
or
Reliance
MediaWorks
Media Contact:
Khushboo Benani,
91-93230-21484
Sr. Manager – Corporate Communications
khushboo.benani@relianceada.com
