Partnership to Launch with Live Action Event
Hong Kong, Jan 19, 2015 - (ACN Newswire) - DD Holdings US, LLC, an indirectly wholly-owned subsidiary of Digital Domain Holdings Limited ("Digital Domain" and together with its subsidiaries, the "Group") (stock code: 547) is pleased to announce that it has entered into a joint venture with POW! Entertainment, LLC ("POW!", a wholly-owned subsidiary of POW! Entertainment, Inc. whose common stock is quoted on the OTCQB Market in the United States of America) for the purpose of development, production and international distribution of content developed by both entities.
Using the innovative and ground breaking technology of Digital Domain, the yet to be named Joint Venture Company will launch with a soon to be announced live action event. The partnering of these two creative forces will also include the development of a broad range of original content. In addition, Digital Domain plans to use its ground breaking and Academy Award winning MOVA technology to, with the blessing of Mr. Stan Lee, create a virtual likeness of the legendary POW! founder. It is expected that this Joint Venture Company will develop, produce and distribute up to ten projects during the coming five years, and will commence development of at least one project to be funded up to US$300,000 during the first year.
Mr. Daniel SEAH, Chairman and CEO of Digital Domain, said, "We are very excited to establish the partnership with POW!. This strategic collaboration between Digital Domain and POW! will broaden the utilization of our innovative technologies on visual effects and enable the Group to further expand the media entertainment business together with POW!. The Group will continue to leverage its innovative technology platforms to further expand our business footprint and add value to our business."
Mr. Stan LEE, Founder of POW!, said, "It is truly our honor to cooperate with Digital Domain. It's a wonderful opportunity to bring their new elements to entertainment content. We have confidence in our strategic partner with its creative team under Daniel's leadership, and we believe that the cooperation will generate strong synergies in the media entertainment business, thus enabling us to expand the scope of innovative visual effects, and continue to lead the industry trends."
About Digital Domain Holdings LimitedDigital Domain Holdings Limited ("DDHL" and together with its subsidiaries, the "Group") is listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 547). DDHL is a diversified investment holding company with its operating and investment businesses spanning Hong Kong, the United States, Canada, Mainland China and other countries, encompassing such businesses as media entertainment, visual effects production, co-production of movies, property investment, trading, etc.
On 4 July 2013, the Group acquired Digital Domain 3.0 Group comprising Digital Domain 3.0, Inc., Digital Domain Productions 3.0 (BC), Ltd. and Mothership Media, Inc.
The Group will continuously explore business opportunities in our new domain of business, and will pursue other strategic investments, to create benefits for its shareholders and investors and to develop more business opportunities with greater potential. www.digitaldomainhl.com
About POW! Entertainment, LLCPOW! Entertainment, LLC ("POW!") is an American media production company formed in 2001 by Gill Champion, Arthur Lieberman and former Marvel Comics editor and publisher Stan Lee. POW! creates, develops, and licenses intellectual properties for traditional entertainment media, including: feature length films in live action and animation, television programming, merchandising and related ancillary markets. With high demand for content in media such as mobile applications, on-line, and video games, POW! has also expanded its focus to develop new material in these areas. The common stock of POW! Entertainment, Inc. is quoted on the OTCQB Market in the United States of America.
For enquiries:Strategic Financial Relations LimitedMandy Go +(852) 2864 4812 mandy.go@sprg.com.hkJovanni Cai +(852) 2114 4937 jovanni.cai@sprg.com.hkIsabel Kwok +(852) 2864 4824 isabel.kwok@sprg.com.hkFax: +(852) 2527 1196
Source: Digital Domain Holdings Limited
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