Digital Domain sale could be finalized Monday - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Digital Domain sale could be finalized Monday

PORT ST. LUCIE, FL (WFLX) - The fate of the failed production company, Digital Domain, may be decided by an auction.

That auction took place last Friday; even though, Port St. Lucie city leaders objected it.

According to those at the auction, the company will be sold to a joint venture known as Galloping Horse-Reliance for $30.2 million.

The sale must still be approved by a federal bankruptcy court which will happen Monday.

City leaders say they're worried they may lose out on millions spent helping the company get established in Port St. Lucie.

Officials say the city spent more than $40 million to build and equip the studio. That money went toward computers and other electronics. Port St. Lucie leaders want to make sure none of the property sold at the auction was paid for with city money.

When Digital Domain moved to the Treasure Coast, it promised it would create 500 jobs by 2014. It instead cut nearly 300 jobs earlier this month.

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