^
Keep New Times Free
4

Dan Marino Loses Millions in Digital Domain Bankruptcy, According to Report

Digital Domain, the Florida-based visual effects company that gave the world Titanic, The Curious Case of Benjamin Button, and a Tupac hologram, filed for Chapter 11 bankruptcy recently.

And now, according to Gossip Extra, Dolphins great Dan Marino, who bought 1,576,525 shares in the animation studio, is among the biggest losers in the bust.

Marino's investment, which was worth more than $14 million at one point, is now worth only around $850,000, according to the report.

Marino held 8.6% of the company at the time of the IPO, and when the Tupac hologram appeared at Coachella, the stock shot up to $9.2 per share.

"I know Dan invested in Digital Domain, but that's all I know," said Marino spokesman Ralph Stringer.

Digital Domain, which had been working on an Elvis hologram, had won several Oscars throughout the years, but despite its Academy Awards successes, the company posted losses of $14.8 million in the first quarter of 2012 -- mainly as a result of the expensive new Port St. Lucie studio. The company received tens of millions from the state.

Now Marino, Port St. Lucie, and West Palm Beach are all big losers in the bankruptcy.

But the biggest losers in this are all of us being deprived of an Elvis hologram.



I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of South Florida and help keep the future of New Times free.

Keep New Times Broward-Palm Beach Free... Since we started New Times Broward-Palm Beach, it has been defined as the free, independent voice of South Florida, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering South Florida with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.

 

Join the New Times community and help support independent local journalism in South Florida.

 

Join the New Times community and help support independent local journalism in South Florida.