PBPost: Shares of Digital Domain plunge 75%, CEO tells SEC he wants to buy firm

John Textor (Source: Variety)

 

The Palm Beach Post reports that John Textor, a Jupiter Island resident and Chief Executive Officer of movie effects company Digital Domain, told regulators he’s considering buying the company. Shares of Digital Domain Media Group have plunged 75 percent in four months, a collapse that has stripped $300 million from the struggling venture’s stock market value.

Lawmakers and city officials have bet that Digital Domain can turn Florida into a hub for high-tech animation jobs. The company has been promised $132 million in cash, land, tax credits and financing from the state and the cities of Port St. Lucie and West Palm Beach.

For the complete story: http://www.palmbeachpost.com/news/business/shares-in-movie-effects-company-digital-domain-plu/nRPdS/

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