Solyndra auctioneer to sell off Digital Domain assets
Digital Domain, the failed animation company that left the state on the hook for $20 million, now has one more trait in common with Solyndra.
California-based auction company Heritage Global Partners will host live and online auctions Dec. 12-14 to sell off the remainder of Digital Domain's almost-new computers, film equipment and movie-theater style seats.
In 2011, the same auction company sold off assets for Solyndra, the failed solar-panel manufacturer that received $535 million in federal loans before closing its doors and filing for bankruptcy in 2011.
Digital Domain suddenly closed its doors in September and put 300 people out of work, less than three years after lawmakers sidestepped the rules to funnel the company $20 million in incentives.
Auction profits will be split between Digital Domain Media Group (former owner of the now bankrupt company) and the city of Port St. Lucie, which also poured $51 million into the company in its own back yard. The Media Group has created Titanic, The Curious Case of Benjamin Button and The Transformers movies.
The bankrupted Digital Domain was sold to Units of Beijing Galloping Film Co. and Reliance MediaWorks limited, based in India, in September for $30.2 million.