Gravity & DLIN to shell out $16.7 mil in deal
BERLIN — Special effects and animation studio High Definition Oberhausen will be sold to an Israeli investor group, Munich daily Suddeutsche Zeitung has reported.
Post-production company Gravity & DLIN will acquire 95% of the studio from the city of Oberhausen in North Rhine Westphalia for 30 million marks ($16.7 million), according to the paper.
With the sale of the studio, Dieter Geissler’s Cine Magic and Philips subsidiary Satel will also forfeit their shares in HDO.
After failing to attract sufficient business since opening its doors last year, the $75-million facility built with public funds has become the subject of heated political debate.