On June 6th, 2024, Digital Domain announced that its indirectly wholly-owned subsidiary, Tower Talent, and superstar legend shareholders have signed a joint venture agreement to jointly invest $1 million to establish the joint venture Star Plus Domain Limited. The joint venture will focus on developing and commercializing AI-driven digital copyright libraries for the film, television, and media entertainment industry. Tower Talent and Superstar Legend shareholders each contributed $400,000 and hold 40% of the shares, while the management team company contributed $200,000 and holds 20% of the shares. The management team's share is preliminarily expected to be held by Mr. Xie, acting chairman, CEO, and executive director of Digital Domain, and Ms. Ma, chairman and executive director of Superstar Legend, each holding 50%. As Mr. Xie...Show More

On June 6th, 2024, Digital Domain announced that its indirectly wholly-owned subsidiary, Tower Talent, and superstar legend shareholders have signed a joint venture agreement to jointly invest $1 million to establish the joint venture Star Plus Domain Limited. The joint venture will focus on developing and commercializing AI-driven digital copyright libraries for the film, television, and media entertainment industry. Tower Talent and Superstar Legend shareholders each contributed $400,000 and hold 40% of the shares, while the management team company contributed $200,000 and holds 20% of the shares. The management team's share is preliminarily expected to be held by Mr. Xie, acting chairman, CEO, and executive director of Digital Domain, and Ms. Ma, chairman and executive director of Superstar Legend, each holding 50%. As Mr. Xie holds a stake in the management team company, this transaction constitutes a connected transaction, but because the percentage is lower than 5%, it can be exempted from approval by independent shareholders. The joint venture will become the exclusive agent for superstar legend global (excluding Greater China and the Middle East) digital content production and AIGC. The Board of Directors believes that this joint venture will help Digital Domain become the preferred digital content production service provider and create more revenue streams for the Group.