On this day in 1996 American conglomerate Cox Enterprises announced that it had become an equity owner in Digital Domain, a leading Hollywood special effects company. The move was supposedly done to heighten the use of special effects in media. The New York Times reported the deal as, “another step in the rapid convergence of various computer, software, entertainment and media companies.”
Ownership of Digital Domain was then split into three groups, one of which included renowned movie director James Cameron, who later used Digital Domain in his blockbuster hit Titanic.