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Reliance MediaWorks partners with Los Angeles-based Digital Domain

Reliance Mediaworks Ltd. | Film Production, Distribution & Entertainment | Media | BSE: 532399 | NSE: RELMEDIA

12 Jul 2011 Evaluate

Reliance MediaWorks, India’s fastest growing film and entertainment service company and a division of the media conglomerate Reliance ADA Group, has partnered with the Los Angeles-based visual effects house Digital Domain Productions to open studios in London and Mumbai to create a visual effects and provide 3D stereo production services, underscoring the increasingly global nature of California's visual effects industry.

The new studios will offer a variety of post-production services for movies, TV shows and commercials. The services will be owned by Reliance, which has existing post-production facilities in London and Mumbai, and will be managed by Digital Domain, which recently handled visual effects work for 'Transformers: Dark of the Moon' and 'Thor.' Financial terms were not disclosed. The agreement marks the latest entertainment industry investment by Reliance, which operates a chain of Indian theaters in the US called Big Cinemas and an image processing center in Burbank, formerly Lowry Digital, a film restoration business it acquired in 2008.

Half the funding for Steven Spielberg's newly independent DreamWorks Studios after it split from parent Paramount Pictures was provided by Reliance and has business partnerships with production companies run by such high-profile industry figures as Tom Hanks, George Clooney, Brad Pitt and partners Ron Howard and Brian Grazer. In June, former Universal Pictures co-Chairman David Linde announced that his new independent film finance and production company would be backed by Reliance Entertainment.

With the partnership Digital Domain, founded in 1993 by James Cameron and other investors, will confirm its first foray into India, where several other rivals such as Technicolor and Rhythm & Hues already have operations to take advantage of substantially lower labor costs there. The U.K., which has a strong film tax credit, has lured a number of big movies in recent years and become a major hub for visual effects.

Digital Domain also has a visual effects studio in Vancouver, Canada, and has been expanding its 3-D conversion business. Last year it acquired In-Three Inc. in Westlake Village and moved most workers to Florida.

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Company Name	CMP
PVR	938.05
Saregama India	344.55
Shemaroo Entertain.	105.35
Balaji Telefilms	94.39
UFO Moviez	72.06
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Reliance MediaWorks partners with Los Angeles-based Digital Domain

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