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Li Ming, Briefly Owner of Digital Domain, Dies

Jan 2 2014, 6:51pm CST | by , in News

Li Ming, Briefly Owner of Digital Domain, Dies
Photo Credit: Forbes
 
 

Li Ming, the CEO of Beijing based media company Galloping Horse, died of myocardial infarction at age 48 on Thursday evening.

Born to a family with military background, Li made his fortune as an advertising agent for China Central Television, China’s national broadcaster. In 1998 he founded Beijing Galloping Horse Media Co, which produces and invests in TV series and films. Its involvement ranges from popular TV romance “Tian Mi Mi” (2006) and Jackie Chen-featured film “The Karate Kid”, to historic drama “Three Kingdoms” (2010) and Communist Party propaganda “The Founding of a Party.” In 2011, Li ventured into the theater chain business, opening the first movie theater in a third-tier city in southern China.

In 2012, Li made a splash in the global media industry with a $30.2 million purchase of Digital Domain, once the Hollywood visual effect powerhouse co-founded by director James Cameron. Yet despite ambitious announcements about upcoming collaboration, including a plan to “revive” the deceased Taiwanese pop icon Teresa Teng on stage, Galloping Horse sold the 70% stake just months later to a Hong Kong company for more than $50 million. Harmony Energy Limited,the shell company that Li used, recorded a loss of $11 million four months after making the purchase, according to 21st Century Business News.

It is unclear if Li’s premature death is linked to any existing medical conditions, but it has prompted calls for a healthier lifestyle nonetheless. Earlier last year, ex-Google China chief Lee Kaifu was diagnosed with cancer at age 51 and has withdrawn to Taiwan for treatment.

Galloping House and Digital Domain could not be immediately reached for comments.

Source: Forbes

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