3-D to 2-D conversion pioneer In-Three was acquired by Digital Domain Holdings, a Florida-based company which touts director Michael Bay as an investor. Digital Domain scored a $51.8M deal in Port St. Lucie to build a 150,000-square-foot production studio. The money comes from city and county bonds, and developers. Digital Domain expects to create over 1000 jobs in the area.
Deluxe Entertainment Services Group has reached an agreement to acquire the bulk of Ascent Media Group, the Santa Monica-based postproduction company, for $68 million. Ascent Media will continue to operate its content distribution and systems integration businesses.
Technicolor announced it will close its North Hollywood film processing plant in 2011, citing the rapid acceleration of digital cinema as the reason.