As public officials ponied up, Digital Domain’s finances were ‘dire,’ former executives say

John Textor (Source: Palm Beach Post)

From The Palm Beach Post’s Jeff Ostrowski: Even as John Textor was negotiating $135 million in public incentives for Digital Domain Media Group, the movie effects company struggled to make payroll, had defaulted on a loan and was unable to find a private equity savior.

Textor himself predicted a “train wreck” in an email to an investor in early 2010. Despite the company’s precarious finances, Textor in May 2009 persuaded Florida lawmakers to negotiate a $20 million cash incentive.

For the complete story: http://www.palmbeachpost.com/news/business/as-public-officials-ponied-up-digital-domains-fina/nSDcJ/

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