Digital Domain (DDMG -5.3%), crushed on Wednesday after defaulting on its debt, is unveiling a major restructuring. Chairman/CEO John Textor has resigned from all positions with the company, and DDMG plans to shut down its Port St. Lucie, FL special-effects studio, which only in June got a very favorable newspaper write-up. The company's California and Vancouver studios will keep running. [View news story]
it's sadder when the vision was blurred and in the process many people were hurt.
Digital Domain Media Group Pursues Strategic Alternatives to Maximize Shareholder Value [View article]
Translation: We are running out of cash, we have no other resources left to raise cash and this is a desperate measure to keep the company propped up until Mr Textor can extract more cash for himself.
Digital Domain Shares Rally On New Licensing Deal [View article]
this is more hype from the hypemaster, Mr. Textor.DDMG's licensing agreement w Prime Focus is nothing more than a way to save face by DDMG and Prime Focus. The two companies are losing money and this frivolous lawsuit by DDMG was only costing both companies money that neither could afford. The "resolution" and agreement was more like we'll drop the lawsuit and save face by "co licensing" our "technologies".
Look for a major DDMG announcement in the coming weeks. The DDMG train is running out of cash.
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]
I agree w stevenf1.... probably a sale of their VFX divisions to an Indian or Chinese company. Leaving DDMG with no revenue (at present) producing divisions. A desperate move by Textor as he is running out of runway.
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]
My research has told me that DD did sustain a profit, before the current owners bought the company in '06. However since DD has been managed by Textor and his cronies, the Company has lost considerable amounts, more every year, since the purchase back in 2006.
IMHO, this is a train wreck, and the current management is there to engineer a win scenario for Textor and Textor alone.
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]
and in this case.... the State of Florida's taxpayers.... whoever runs for Gov of FLA, or mayors of WPB or PT ST Lucie should take heed, as there could be a lot of collateral damage to rectify.
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]
Maybe we need to look at other companies Mr. Textor has run and look at their successes or failures, to get a track record. There are certain execs that have made statements that they always make money (for themselves) even though the company fails and the investors take a bath.
Digital Domain (DDMG -5.3%), crushed on Wednesday after defaulting on its debt, is unveiling a major restructuring. Chairman/CEO John Textor has resigned from all positions with the company, and DDMG plans to shut down its Port St. Lucie, FL special-effects studio, which only in June got a very favorable newspaper write-up. The company's California and Vancouver studios will keep running. [View news story]
Digital Domain Media Group: Cool Tech Doesn't Mean Profitable Firm [View article]
Digital Domain Media Group: Cool Tech Doesn't Mean Profitable Firm [View article]
Digital Domain Media Group: Cool Tech Doesn't Mean Profitable Firm [View article]
Digital Domain Media Group's CEO Discusses Q2 2012 Results - Earnings Call Transcript [View article]
Digital Domain Media Group's CEO Discusses Q2 2012 Results - Earnings Call Transcript [View article]
Digital Domain Media Group Pursues Strategic Alternatives to Maximize Shareholder Value [View article]
Digital Domain Shares Rally On New Licensing Deal [View article]
Look for a major DDMG announcement in the coming weeks. The DDMG train is running out of cash.
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]
IMHO, this is a train wreck, and the current management is there to engineer a win scenario for Textor and Textor alone.
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]
Digital Domain Media Group: It Takes A Visionary To Speculate [View article]