PORT ST. LUCIE, Fla. & MUMBAI, India--(BUSINESS WIRE)--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.
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