By Ryan Parsons | Image property of respective holders.
One of the aspects that make directors George Lucas and Peter Jackson so great -- besides high-grossing films -- is the fact that both own their own visual effects studios. George Lucas has been reaping the awards from Industrial Light & Magic (ILM) for years and Peter Jackson exploded onto the scene with his Weta thanks to the stunning visuals in the Lord of the Rings trilogy.
Though Michael Bay's last film, The Island, has been considered a disappointment, the director is still ready to join the ranks.
Michael Bay Purchases Digital Domain
According to THR, Bay and private investment firm Wyndcrest Holdings, in which Bay is a principal, are set to announce today the acquisition of the 13-year-old visual effects studio Digital Domain.
Bay broke the news to Digital Domain's 475 artists Monday at a companywide meeting at the Venice, Calif.-based studio.
"My simple goal is to make Digital Domain an effects powerhouse," Bay said in an interview after the meeting. "I think we can utilize this platform here to expand on production in terms of feature films and animation."
Digital Domain, originally created in 1993 by Scott Ross, James Cameron and Stan Winston, proved its value with Oscar-nominated work on both Titanic and True Lies; not bad! Tensions between Cameron and the management staff of the visual studio grew after Titanic went over schedule and over budget. But whoopie-doo, the film made a killing at the box office.
Building Digital Domain back up to its former glory will be a matter of aligning with top talent -- directors like David Fincher and producers like Jerry Bruckheimer -- while also expanding the digital studio's business units.
"We're targeting some of the best directors in the industry, and we'll also have key relations with producers, which should open up a whole new world of clients," Bay said.