As many as 500 hi-tech film industry jobs for Abu Dhabi are in doubt after Digital Domain Media Group (DDMG), an Oscar-winning US special effects company planning to set up in the capital, filed for bankruptcy protection.
The company, founded by the Titanic director James Cameron, said in May it was setting up a studio at the twofour54 media zone in Abu Dhabi. But that hangs in the balance after DDMG, which has created effects for more than 90 films including Transformers and Tron: Legacy, this month filed for Chapter 11 protection with just US$50,000 (Dh183,645) left in the bank, weighed down by debt and unable to meet its payroll obligations. The company, founded in 1993, had planned to employ more than 500 people in Abu Dhabi.
No comments:
Post a Comment